Why Lockheed Martin Stock Soared While the Market Sagged Today
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Lockheed Martin's stock rose nearly 2% amid a bearish market, thanks to a bullish note from Morgan Stanley analyst Kristine Liwag, who upgraded the stock to overweight and raised the price target to $575. This upgrade reflects a broader positive outlook on the U.S. defense sector, driven by a projected $1 trillion defense budget and increased international sales. Despite Northrop Grumman being Morgan Stanley's top pick, Liwag emphasized Lockheed Martin's strong foreign sales as a growth driver in a favorable global defense market.
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