Movement Alert|Lockheed Martin Rises 3.06% in Regular Trading, Boosted by Citi Upgrade and $3 Billion Army Contract

Market Focus07-02 21:54

On July 2, Lockheed Martin rose 3.06% in regular trading, trading at $539.65/share, with turnover of $58.51 million. The rally was driven by a confluence of positive developments including an analyst upgrade and a major defense contract award.

Citi upgraded Lockheed Martin from Neutral to Buy and raised its price target from $571 to $582. Separately, the U.S. Department of Defense announced that Lockheed Martin was awarded a $3 billion U.S. Army contract for Sentinel A4 radar production and engineering services, with the project expected to conclude by June 2031. The company also secured a $103.9 million Navy contract supporting the Spain F-100 mid-life upgrade program and a $73.7 million modification for MK 41 Vertical Launching System modules.

The combined value of newly announced contracts exceeds $3.17 billion, reinforcing investor confidence in the company's order pipeline ahead of its next earnings report expected on July 23.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment