2023-04-12 08:56:02 ET
Lockheed Martin ( NYSE: LMT ) on Wednesday was downgraded to Neutral from a prior investment rating of Outperform by analysts at Baird. They said the biggest U.S. defense contractor faces several difficulties that will squeeze profits.
“Inflationary pressures, supply chain headwinds and ongoing losses from a classified program limits margin upside from current levels well into 2024,” Peter J. Arment, analyst at Baird, said in an April 12 report. “Following strong gains of the Lockheed Martin ( LMT ) stock of nearly 40% in 2022 and flat year-to-date performance that is within 3% of our price target warrants some caution at current levels especially given concerns on margins.”
Baird cut its estimates for Lockheed Martin’s ( LMT ) EPS to $28 from $28.70 for 2023, and to $29.10 from $30.05 for 2024.
For further details see:
Lockheed Martin downgraded to Neutral at Baird on valuation, margin pressures