Lockheed Martin’s Price Target Boosted at Morgan Stanley (LMT)

in Gold Gold Investing Gold Investment by admin — March 16, 2010 6:47 am | no comments

Security and aeronautics company Lockheed Martin Corporation ( LMT ) saw its price target raised on Tuesday by analysts at Morgan Stanley. The analyst boosted its price target for LMT shares, which had closed at $84.12 on Monday, to $100. Morgan noted that Lockheed’s valuation is attractive at current levels, and maintained its “Overweight” rating on the stock. Lockheed Martin shares rose 38 cents, or +0.5%, in premarket trading Tuesday. The Bottom Line We recently removed shares of LMT from our “recommended” list on May 29, when the stock was trading at $82.99. The company has a 3.00% dividend yield, based on last night’s closing stock price of $84.12. The stock has technical support in the $76-$80 price area. If the shares can pick up momentum on today’s news, we see overhead resistance around the $87-$92 price levels. We would remain on the sidelines for now. Lockheed Martin Corporation ( LMT ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .