BUZZ-Bernstein says outlook positive on defense stocks but cuts PTs after post-election slump

** Bernstein trims PT on defense stocks Lockheed Martin LMT.N, Northrop Grumman NOC.N and General Dynamics GD.N on post-election sentiment, but sees lower valuations making them "much more attractive"

** Cuts PT on LMT to $548 from $607, GD to $298 from $331 and NOC to $533 from $578

** "We are at a point now in which there is potential for the investment budget to break through Congressional caps at a time of high threats," brokerage says

** In 2024, LMT rose 7.2%, GD gained 1.5%, NOC was up 0.25%

(Reporting by Utkarsh Shetti in Bengaluru)

((UtkarshUmesh.Shetti@thomsonreuters.com;))