Street View: Lockheed Martin to stay on top of jet market

Lockheed Martin LMT.N reported a higher first-quarter profit on Tuesday and reaffirmed its forecasts for the year on the back of resilient demand for its missile systems and fighter jets

Average recommendation of 25 brokerages is "buy", median PT is $520 - data compiled by LSEG

FLYING OFF THE RACKS

RBC Capital Markets ("sector perform," PT: $480) believes LMT will benefit from strong F-35 fighter jet deliveries in 2025-2026

"The program faces increased U.S. Department of Defense (DoD) risk, while we expect international demand to remain strong", adds RBC

TD Cowen ("buy," PT: $500) says co may need to integrate new technology to avoid reductions in F-35 production volumes

J.P. Morgan ("overweight," PT: $520) sees potential for LMT to overcome challenges and benefit from positive defense backdrop

"We see Lockheed’s Missile and Fire Control business as especially well-positioned", adds JPM

Morningstar (fair value: $539) says LMT will remain the top builder of combat jets for decades, even without the Next Generation Air Dominance (NGAD) contract