Lockheed Martin Analysts Cut Their Forecasts Following Q3 Earnings
Portfolio Pulse from Lisa Levin
Lockheed Martin Corp reported Q3 FY23 net sales growth of 1.8% YoY to $16.88 billion, beating the consensus of $16.73 billion. Adjusted EPS of $6.77 (-1.5% YoY) also topped the consensus of $6.67. Following the earnings announcement, Citigroup and JP Morgan lowered their price targets on Lockheed Martin. The company's shares gained 1.1% to trade at $445.93 on Wednesday.
October 18, 2023 | 3:08 pm
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Lockheed Martin's Q3 FY23 earnings beat expectations, leading to a 1.1% increase in share price. However, Citigroup and JP Morgan have lowered their price targets on the company.
Lockheed Martin's better-than-expected earnings report led to a rise in its share price. However, the lowering of price targets by Citigroup and JP Morgan could indicate a potential slowdown in the company's growth, which may affect its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100