RBC Capital analyst Ken Herbert raised the firm’s price target on Lockheed Martin to $500 from $470 and keeps a Sector Perform rating on the shares. The company’s Q2 earnings beat reflected “strong” results, and the stock price jump was “justified”, the analyst tells investors in a research note. The news on the F-35 improvemend, stronger than expected spending in Europe, and margin upside were also a “nice surprise”, RBC added.
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