Security and aeronautics company Lockheed Martin Corporation (LMT) saw its price target raised on Tuesday by analysts at Morgan Stanley.
The analyst boosted its price target for LMT shares, which had closed at $84.12 U.S. on Monday, to $100 U.S. Morgan noted that Lockheed's valuation is attractive at current levels, and maintained its "Overweight" rating on the stock.
Lockheed Martin shares rose 38 cents U.S., or +0.5%, in premarket trading Tuesday.
The Bottom Line
Some experts recently removed shares of LMT from their "recommended" list on May 29, when the stock was trading at $82.99 U.S. The company has a 3.00% dividend yield, based on last night’s closing stock price of $84.12 U.S.
The stock has technical support in the $76-$80 U.S. price area. If the shares can pick up momentum on today’s news, there could be overhead resistance around the $87-$92 U.S. price levels. But those experts would remain on the sidelines for now.
Lockheed Martin Corporation (LMT) is not recommended at this time, holding a Dividend.com DARS Rating of 3.4 out of five stars.
