Lockheed Martin Set For Lift-Off: Is A Golden Cross On The Horizon?
Portfolio Pulse from Surbhi Jain
Lockheed Martin Corp (NYSE:LMT) reported a 13.7% increase in Q1 net sales to $17.195 billion, with EPS of $6.33, slightly down from $6.43 YoY but above expectations. The stock shows signs of a bullish trend with a potential Golden Cross indicator. Analysts have a neutral rating but see a 10%+ upside, with a consensus target of $503.67.
April 25, 2024 | 2:43 pm
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Lockheed Martin's Q1 earnings exceeded expectations with strong sales growth. Technical indicators suggest a bullish trend, with a potential Golden Cross. Analyst consensus targets imply a 10%+ upside.
The positive Q1 earnings report, combined with technical indicators like the Golden Cross and analyst ratings suggesting a 10%+ upside, indicate a bullish short-term outlook for LMT. The stock's performance and technical analysis support a potential increase in stock price, though investors are advised to consider the RSI indicating a near overbought condition.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100