These Analysts Revise Their Forecasts On Lockheed Martin Following Strong Q2 Results
Portfolio Pulse from Lisa Levin
Lockheed Martin Corp reported better-than-expected Q2 FY23 results with net sales growth of 8.1% YoY to $16.69 billion, above the consensus of $15.91 billion. Adjusted EPS of $6.73 also topped the consensus of $6.45. The company raised its FY23 net sales and EPS forecasts. Despite the strong results, Lockheed Martin shares fell 3% to close at $455.70 on Tuesday. Post-earnings, Citigroup, Wells Fargo, and RBC Capital revised their price targets on Lockheed Martin.
July 19, 2023 | 1:07 pm
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Lockheed Martin reported strong Q2 FY23 results and raised its FY23 forecasts. However, the stock fell 3% post-announcement. Analysts from Citigroup, Wells Fargo, and RBC Capital revised their price targets on the company.
Lockheed Martin's strong Q2 results and raised FY23 forecasts indicate a positive outlook for the company. However, the stock's 3% fall post-announcement suggests market uncertainty. The revised price targets by analysts could influence the stock's short-term performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100