Lockheed Martin Shares Are Rising In Tuesday Pre-Market: What's Going On?

Lockheed Martin Corp LMT experienced a 1.04% rise in pre-market trading on Tuesday as the company prepared to unveil its third-quarter financial results before the market opens.

Lockheed Martin has consistently outperformed analyst expectations for the past seven quarters, and this trend is expected to continue. According to Benzinga Pro, analysts forecast earnings of $6.50 per share and revenue of $17.351 billion for the quarter.

Investors are eagerly awaiting updates on Lockheed Martin’s acquisition of satellite manufacturer Terran Orbital Corp and the company’s recent $5.1 billion in secured contracts. The company’s potential in the space sector has also been highlighted by Deutsche Bank analyst Scott Deuschle, who maintains a Buy rating and increased the price forecast from $600 to $620.

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Additionally, Lockheed Martin could gain from potential changes in U.S. export restrictions. Last week, Reuters reported that the Biden administration plans to relax these restrictions, allowing U.S. space companies to export satellites and related items to allied nations. This move aims to boost sales within the commercial space sector while ensuring national security.

In anticipation of the earnings report, Susquehanna analyst Charles Minervino maintained a Positive rating for Lockheed Martin, raising the price target from $565 to $705.

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