Why Lockheed Martin Stock Is Gaining Altitude Today
An analyst has increased his price target on Lockheed Martin (NYSE: LMT), based upon the potential for more stock buybacks and an eventual windfall from the current conflict in Europe. Investors are buying in and sent the stock up as much as 5% on Monday.
Lockheed and other defense contractors have been in focus since late February, when Russia invaded Ukraine. Although the conflict has galvanized Europe and should lead to an eventual uptick in defense spending, these deals take time, and there's unlikely to be a near-term impact to sales and earnings.
Image source: Lockheed Martin.
Source Fool.com