Lockheed Martin's stock surged 5.03% during Friday's intraday trading session, driven by a combination of a bullish analyst upgrade and positive sector sentiment following President Donald Trump's proposal for a $1.5 trillion defense budget.
Truist Securities upgraded Lockheed Martin to Buy from Hold and raised its price target to $605 from $500, citing an attractive valuation and improved execution prospects in 2026. The upgrade was echoed in multiple reports, reinforcing investor confidence.
Additionally, defense stocks rallied broadly after Trump outlined plans for a 50% increase in the U.S. military budget for 2027, aiming to build a "Dream Military." This proposal sparked optimism about increased demand for defense contractors like Lockheed Martin.
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