Lockheed Martin Stock (LMT) Looks Attractive Despite the Budget Debate

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Lockheed Martin (LMT) stock looks attractive to me despite uncertainty over next year's defense budget, because its existing contracts provide strong revenue visibility. The aerospace and defense contractor holds a record $292 billion backlog. CEO Jim Taiclet said the F-35 framework "strengthens the way we can plan and invest in the F-35 enterprise." Investors are questioning next year's Pentagon spending, but production ramps are already underway. I remain bullish on LMT stock because those commitments can support earnings for years, all while shares trade near 17.67x next year's estimates. Q3 Shows the Production Ramps Working Lockheed's Q3 shows its production ramps working at full speed. Results showed sales rising 11% to $20.7 billion.