Lockheed Martin is trading 4.11% up at $629.04 after Morgan Stanley upgraded the shares to Overweight from Equal Weight and raised its price target to $835 from $690.
- Morgan Stanley cited a 10-year F-35 production framework that it said removes significant risk, alongside expected growth from missile production.
- The upgrade follows last week’s earnings beat and stronger outlook.
- Lockheed Martin completed its Ultra Maritime acquisition on October 26, adding undersea-warfare capabilities.