Susquehanna raised the firm’s price target on Lockheed Martin (LMT) to $590 from $490. The firm updated its model heading into the Q3 earnings season and noted the Defense industry has highly favorable trends, supported by a roughly $150bn Reconciliation Bill (and Golden Dome), which Susquehanna expects will drive US Defense spending to record levels, while ramped up NATO spending will also be a key driver of growth for the major US Defense companies.
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