Morgan Stanley upgrades Lockheed Martin, says F-35 deal removes key risk

Investing.com -- Morgan Stanley upgraded Lockheed Martin to Overweight from Equal-weight and raised its price target to $835 from $690 in a note to clients on Monday, saying a new F-35 agreement significantly de-risks the stock. Still guessing which stocks will beat the market? Our AI portfolio updates monthly and is outperforming the S&P 500 by 118%. See this month's list » Lockheed announced last week a 10-year framework agreement with the Department of War to deliver 850 F-35s, maintaining production at 156 aircraft a year. Analyst Kristine Liwag said investors had worried the F-35, which makes up 20% to 30% of Lockheed's revenue, could be cut to fund missile expansion.