Amid turbulent times on the global geopolitical scene that has seen escalating tensions in the Middle East, it should not come as a shock that war stocks are rising, including Lockheed Martin (NYSE: LMT), although experts are still cautiously optimistic regarding its price in the following 12 months.
Indeed, the shares of Lockheed Martin, a defense and aerospace behemoth with government contracts, are recording growth, particularly in the last month, recovering from a sudden drop in late January this year after an unimpressive earnings and sales report for the fourth quarter.
Lockheed Martin stock forecast
With this in mind, 11 Wall Street experts who shared their views regarding the future of LMT shares have rated them as a ‘hold,’ with three votes still recommending a ‘buy’ and one analyst suggesting a ‘sell,’ according to the latest TipRanks data retrieved on April 17.
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At the same time, these experts have also offered their yearly targets for LMT stock price over the course of the past three months, predicting that Lockheed Martin shares will increase by 4.84%, toward the average price of $478.07, with the lowest target at $380 (-16.67%) and the highest looking at $540 (+18.41%).
LMT stock price history
For now, the price of LMT stock stands at $456.04, which suggests an increase of 0.12% on the day, a 0.91% gain across the past week and a slightly more significant advance of 5.27% on its monthly chart, according to the most recent information on April 17.
Meanwhile, a bullish sign for Lockheed Martin could be the confidence of politicians like United States Congressman Kevin Hern, who purchased LMT shares just before Lockheed Martin won a $17 billion contract for developing a critical defense system and one day before Iran attacked Israel.
That said, although things are currently leaning toward a more positive side for LMT shares, trends in the stock market can sometimes change unexpectedly, so doing one’s own research and carefully weighing all the risks is important before investing a larger amount of money.
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Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
