Lockheed Martin (LMT) shares surged 5.48% in Thursday's trading session, outperforming the broader market amid positive analyst sentiment and a new international sales opportunity. The aerospace and defense giant's stock movement was fueled by multiple factors, signaling investor confidence in the company's near-term prospects.
Baird analysts named Lockheed Martin as a "bullish fresh pick," encouraging investors to buy the recent dip in shares. The firm's thesis is based on the long-term health of the F-35 program, emphasizing that lifetime program deliveries are only about 35% complete. This vote of confidence from Baird suggests significant growth potential for Lockheed Martin's flagship fighter jet program.
Adding to the positive momentum, the U.S. State Department approved a potential $215 million sale of joint air-to-ground missiles and related equipment to the Netherlands. Lockheed Martin is the principal contractor for this deal, which not only boosts the company's international sales but also underscores the ongoing demand for advanced defense systems among U.S. allies. This development aligns with the broader trend of increased defense spending globally, particularly in NATO countries.
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