NEW YORK (TheStreet) --Shares of Lockheed Martin (LMT) were climbing higher in afternoon trading on Monday after an upgrade to "buy" from "hold" at Stifel today.

"I think we'd be doing this even without Trump winning. I think what gets us more comfortable is really the outlook for free cash flow," Stifel Director Joseph DeNardi said on CNBC's "Fast Money Halftime Report" this afternoon.

Following the upgrade today, the "Fast Money Halftime Report" panel deliberated Lockheed Martin.

"I know it's expensive, but, this is an easy 10% [move from here] both because of the F-35 which is a huge program. They also have a lot of export programs like the C-130, which gets exported all over the world," Lebenthal Asset Management CEO Jim Lebenthal said.

The F-35 is Lockheed Martin's family of single-seat, single-engine fighter aircraft, and the C-130 is its military transport planes.

However, the stock has advanced 13.5% in the past month alone. "It's just back to where it was in May," Lebenthal said. "It looks like a great move, but it sold off a little bit, its corrected back from that. It's got another 10% easily."

Despite his bullish stance on the stock, Short Hills Capital CIO Stephen Weiss pushed back on his position.

"I think any stock that's a solid company has 10% upside, I would not have upgraded. I think you need more than that to put money into it," Weiss explained.

He noted that the stock is both expensive regarding cash flow, and earnings basis. Moreover, Weiss prefers Orbital ATK (OA) over Lockheed Martin.

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