Analysts See 27% Upside To Lockheed Martin Corporation (LMT)

Lockheed Martin Corporation (NYSE:LMT) is among the 9 Best Drone Stocks to Buy According to Wall Street Analysts. As of the close of business on May 8, Wall Street analysts anticipate a 27% upside to the company’s shares.

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Recent updates include Morgan Stanley, which on April 24 lowered its price target on the stock to $653 from $675 while keeping an Equal-Weight rating. The firm said it was revising the model for the defense contractor following its Q1 results and cut its full-year EPS estimate range to $29.90 from $30.05, according to a report on TipRanks.

Lockheed Martin Corporation (NYSE:LMT) reported a revenue of $18 billion for the first quarter, remaining flat compared to the prior year’s period and missing forecasts of $18.24 billion. Net earnings reduced from $7.28 last year to $6.44 per share, falling shy of estimates by 28 cents.

Following the results, Susquehanna also trimmed its price target on the stock to $700 from $740, while maintaining a Positive rating.

In other news, earlier this month, the company secured a contract from the U.S. Space Force Space Systems Command to support the Space-Based Interceptor (SBI) program and deliver an early engagement layer for missile defense.

Lockheed Martin Corporation (NYSE:LMT) is one of the world’s largest defense contractors. It specializes in the research, design, and development of advanced technology systems, products, and services. It is famed for manufacturing notable fighter jets, including the F-35.

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