Lockheed Martin (LMT) Stock Up, Drexel Raises Price Target
NEW YORK (TheStreet) -- Shares of Lockheed Martin (LMT) - Get Report are up 0.23% to $239.44 Friday afternoon as Drexel Hamilton raised its price target on the stock to $166 from $156 and reiterated its "buy" rating.
The firm "moderately" raised valuations on Lockheed stock, saying it "remains one of our top two picks."
The Bethesda, MD-based global security and aerospace company announced today its Missiles and Fire Control division was awarded a $331.8 million foreign military sales contract from the U.S. Army for international allies Israel, Finland, Jordan and Singapore.
The contact gives Lockheed Martin the authority to deliver Guided Multiple Launch Rocket System (GMLRS) alternative warhead rocket pods (290 units), 34 unitary rocket pods and 529 reduced range practice rocket pods to the allies, the company said.
Separately, TheStreet Ratings rated Lockheed Martin as a "buy" with a score of A+.
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon.
Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that are rated.
The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, good cash flow from operations, solid stock price performance and reasonable valuation levels.
TheStreet feels its strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.
You can view the full analysis from the report here: LMT
