Morgan Stanley Ups Lockheed Martin to Equalweight
Durham News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Morgan Stanley maintains its Equalweight rating on Lockheed Martin, setting a price target of $675 after a significant deal with the Department of Defense to quadruple Precision Strike Missile production. This agreement, worth $4.94 billion, will increase output from 400 to 1600 units annually, potentially extending to 7 years with Congressional approval. Lockheeds CEO and a Defense undersecretary emphasized the importance of this deal for deep-strike capabilities and staying ahead of competitors. The push for increased production comes from the missiles successful debut in Iran strikes and concerns over depleted stockpiles. Lockheeds stock has risen 27% in 6 months, implying an 8.5% upside, as these deals secure funding for Lockheeds $7 billion production boost, promising better margins and steady growth.
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