Lockheed Martin price target lowered to $525 from $555 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Lockheed Martin (LMT) to $525 from $555 and keeps an Equal Weight rating on the shares. Shares sold off post-print after Lockheed incurred $1.3B in post-tax charges on two classified programs, the analyst noted. While the outlook was revised higher for sales and free cash flow, guidance implies EPS being down about 3% year-over-year, the analyst tells investors.