Here is why Lockheed Martin is Among the Most Undervalued Defense Stocks to Buy According to Analysts

With a forward P/E ratio of 16.05, Lockheed Martin Corporation (NYSE:LMT) is among the 10 Most Undervalued Defense Stocks to Buy According to Analysts.

Lockheed Martin Corporation (NYSE:LMT) faced mixed analyst revisions on April 24, with Susquehanna lowering its price target to $700 from $740 while maintaining a Positive rating following weaker-than-expected first-quarter earnings and free cash flow results. The adjustment reflected near-term financial pressure despite continued confidence in the company’s broader defense portfolio.

On the same day, Morgan Stanley also reduced its price target on Lockheed Martin Corporation (NYSE:LMT) to $653 from $675 while maintaining an Equal Weight rating, citing downward revisions to its 2026 earnings-per-share forecast. The firm adjusted its model following the first-quarter performance that came in below expectations.

Lockheed Martin Corporation (NYSE:LMT) is a global aerospace and defense company engaged in the design, development, and integration of advanced defense systems, including aircraft, missile systems, and space technologies. The company is headquartered in Bethesda, Maryland, and was formed in 1995 through the merger of Lockheed Corporation and Martin Marietta.

Despite near-term earnings pressure, Lockheed Martin Corporation (NYSE:LMT) continues to benefit from its entrenched position in mission-critical defense programs with long-term government demand visibility. The combination of strong defense exposure and persistent geopolitical tailwinds supports its structural investment appeal over the medium to long term.

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