JPMorgan upgrades Lockheed Martin, notes ‘dangerous’ geopolitical world

[Pelican Press 0]

JPMorgan upgrades Lockheed Martin, notes ‘dangerous’ geopolitical world

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on Lockheed could find more support from stepped-up military preparedness springing from the Middle East, especially since the defense sector is largely under-owned by institutional investors. “We had prepared our preview and LMT upgrade prior to the ******* and do not venture a prediction regarding how that specific situation will evolve,” Seifman said, referring to Lockheed’s scheduled first-quarter earnings release on April 23. “What we can say is that it’s a dangerous world and while that is not a sufficient condition for Defense stocks to outperform, it is a potential source of support, especially when they are under-owned.” The analyst added that Lockheed Martin and the array of defense stocks could benefit from a small increase to the defense budget last month, forecasting some supplemental spending for Ukraine, ******* and Taiwan. Overall, “any change in market momentum would likely leave Defense stocks — for which LMT is the bellwether — well-placed in relative terms,” according to Seifman. Lockheed Martin stock has lagged the broader market so far in 2024, falling less than 1% through Friday. — CNBC’s Michael Bloom contributed to this report.

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Investment strategy,Stock markets,Lockheed Martin Corp,*******,JPMORGAN DRN,Government and politics,Iran,business news
#JPMorgan #upgrades #Lockheed #Martin #notes #dangerous #geopolitical #world

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