Lockheed Martin falls after TD Cowen cuts to 'hold' as F-35 uncertainty looms

Shares of defense giant Lockheed Martin LMT.N down 1% at $458, in early trade

TD Cowen downgrades co to 'hold' from 'buy', cuts PT to $480 from $500, a premium of 3.7% to the stock's last close

Says there's lingering uncertainty around the F-35 program - especially delays in software upgrades and potential cuts to future U.S. orders

Flags potential charges in its aero segment, delayed contract signings, and the risk of lowered full-year guidance

Average of 25 brokerages rate the stock equivalent to 'hold', median PT is $527.50 - data compiled by LSEG

Including session moves, shares are down 5.5% YTD