This favourite Congress defence stock just received 2 major Wall Street downgrades
The post This favourite Congress defence stock just received 2 major Wall Street downgrades appeared on BitcoinEthereumNews.com.
Lockheed Martin (NYSE: LMT), one of the most actively traded defense stocks among United States Congress members, has been hit with two major downgrades from Wall Street. These revisions add to the company’s recent challenges as it faces increasing capital outflows. Over the past three years, LMT stock has seen nearly 50 trades among politicians, with at least 10 lawmakers involved in the stock. The most recent Congress trade occurred on February 18, when Republican Representative Scott Franklin purchased between $1,000 and $15,000 worth of shares. Receive Signals on US Congress Members’ Stock Trades Stocks Stay up-to-date on the trading activity of US Congress members. The signal triggers based on updates from the House disclosure reports, notifying you of their latest stock transactions. Enable signal As of press time, LMT was down over 2%, trading at $429.70, marking a year-to-date decline of more than 10%. The stock’s overall sentiment remains bearish in the short and long term, as it continues to trade well below its 50-day simple moving average (SMA) of $461.43 and 200-day SMA of $512.87. LMT one-week stock price chart. Source: Finbold Analysts downgrade LMT stock Regarding the stock’s trajectory, on March 24, Bank of America (BofA) analyst Ronald Epstein downgraded Lockheed from ‘Buy’ to ‘Neutral’, lowering the price target from $685 to $485. This reflects a 12.5x 2026 estimated EV/EBITDA multiple, aligning with historical averages. Epstein cited concerns over Lockheed’s earnings quality, the loss of all sixth-generation manned tactical aircraft programs, and a lack of company-specific catalysts in the near term. The BofA downgrade also reflects lowered topline growth expectations and delayed profitability ramp-ups within Lockheed’s Aeronautics division. “We remain wary of Lockheed Martin’s recent quality of earnings, the loss of all 6th Gen manned tactical aircraft programs, and lack of company-specific catalysts in the near term,”…
Filed under: News - @ March 24, 2025 3:27 pm