Deutsche Bank upgraded Lockheed Martin to Buy from Hold with a price target of $600, up from $540. The company’s “strong” Q2 results point to an “attractive beat/raise opportunity” in the second half of 2024, the analyst tells investors in a research note. The firm believes this likely compounds into 2025 and 2026, with potential upside to EBIT in 2026 approaching the high-single-digit range. Deutsche thinks Lockheed shares can re-rate to reflect this upside opportunity.
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