Lockheed Martin Analysts Cut Their Forecasts Following Q3 Earnings

Lockheed Martin Corp LMT reported better-than-expected earnings for its third quarter.

The company posted third-quarter FY23 net sales growth of 1.8% year-over-year to $16.88 billion, above the consensus of $16.73 billion. Adjusted EPS of $6.77 (-1.5% Y/Y) topped the consensus of $6.67.

Lockheed Martin shares gained 1.1% to trade at $445.93 on Wednesday.

These analysts made changes to their price targets on Lockheed Martin following earnings announcement.

• Citigroup cut the price target on Lockheed Martin from $555 to $540. Citigroup analyst Jason Gursky maintained a Buy rating.
• JP Morgan lowered the price target on Lockheed Martin from $495 to $481. JP Morgan analyst Seth Seifman maintained a Neutral rating.

Now Read This: Blend Labs And 3 Other Stocks Under $3 Insiders Are Buying