Why Do Lockheed Martin Shares Continue to Rise? UBS Raises Its Target to $674
Lockheed Martin shares closed up 3.65% at $552.09 in their third consecutive gain, as UBS reiterated its Buy rating and a $674 price target.
Lockheed Martin shares closed up 3.65% at $552.09, marking their third consecutive daily gain, according to Motley Fool.
The stock had risen 2.5% earlier in the afternoon before closing at that level, as UBS analyst Gavin Parsons reiterated his Buy rating on the stock with a target price of $674.
Parsons expects sales in the Missiles and Fire Control segment to grow by nearly 20% annually through 2030, driven by systems such as Patriot PAC-3, THAAD, and JASSM/LRASM, which are versatile missile programs.
The platform also attributed this surge to rising demand for missiles and F-35 fighter jet sales, bolstering investor optimism regarding the company's performance.
What Do These Terms Mean?
Target Price: The price an analyst expects a stock to reach within a specified period, used as a reference for investors.
Buy Rating: An analyst's opinion indicating that the stock's current price is below its fair value and is likely to rise.
Patriot and THAAD: Two air and missile defense systems manufactured by Lockheed Martin and used to intercept missiles.
F-35: A multirole stealth fighter aircraft that is one of Lockheed Martin's largest programs in terms of revenue.
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