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.)
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