Q1 Preview: Citigroup Remains Neutral on Lockheed Martin Corporation (LMT)

Lockheed Martin Corporation (NYSE:LMT) is among the 12 Best Aerospace Stocks to Buy Right Now. On April 2, Citigroup analyst John Godyn raised the firm’s price target on the stock to $675 from $673 while maintaining a Neutral rating.

Q1 Preview: Citigroup Remains Neutral on Lockheed Martin Corporation (LMT)

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The bank said it had adjusted estimates and price targets across the aerospace and defense sector as part of its first-quarter preview.

Earlier on April 1, Wells Fargo initiated coverage on the defense contractor with an Equal-Weight rating and announced a price target of $650. In a research note to investors, analyst David Strauss said that the firm anticipates slower growth and weaker free cash flow compared to peers.

Wells Fargo sees Lockheed Martin Corporation (NYSE:LMT)’s margins being pressured due to certain fixed-price programs, with the cash burn on these programs also expected to squeeze free cash flow, the analyst added.

As of the close of business on April 2, Wall Street has a Hold rating on the stock with a one-year average share price target of $672.50, representing an upside of 8%.

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.

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