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Upgrade Alert for Lockheed Martin (LMT)

By Shiri Gupta

Lockheed Martin (NYSE:LMT) was upgraded from Market Perform to Outperform at Wells Fargo today. The stock closed yesterday at $240.88 on volume of 1.5 million shares, above average daily volume of 1.0 million.

Lockheed Martin Corporation is a global security company that primarily researches, designs, develops, manufactures, and integrates advanced technology products and services. The Company's businesses span space, telecommunications, electronics, information and services, aeronautics, energy, and systems integration. Lockheed Martin operates worldwide.

Lockheed Martin (NYSE:LMT) defies analysts with a current price ($240.88) 6.6% above its average consensus price target of $225.06. Lockheed Martin shares have support at the 50-day moving average (MA) of $223.55 and additional support at the 200-day MA of $215.04.

In the past 52 weeks, Lockheed Martin share prices have been bracketed by a low of $181.91 and a high of $266.93 and closed yesterday at $240.88, 32% above that low price. The 200-day and 50-day moving averages have moved 0.31% higher and 0.74% higher over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Lockheed Martin on August 19th, 2016 by issuing a Downtrend alert when the shares were trading at $253.85. Since that call, shares of Lockheed Martin have fallen 6.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: analyst upgrades/downgrades Lockheed Martin

Ticker(s): LMT