Bernstein raised the firm’s price target on Lockheed Martin to $514 from $500 and keeps a Market Perform rating on the shares. The firm is “incrementally more positive” following its Strategic Decisions Conference and progress on the 2025 Department of Defense budget. The analyst sees a “breakthrough in Congress that would allow the budget to respond to the high geopolitical threat environment.” However, Bernstein does not expect that before the November elections.
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