Lockheed Martin stock weighs UBS upgrade against cash flow risk

Published on 10/03/2026 at 21:56 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Lockheed Martin stock was last at USD 505.41 on October 2, 2026, while UBS raised its target to USD 674 from USD 581. Q2 sales reached USD 20.1 billion and backlog USD 230 billion.

Flach fotografiertes Arrangement aus Zertifikat, ISIN-Karte, Turbinenteil und Blaupause — Flatlay-Arrangement für Lockheed Martin, ISIN US5398301094, zeigt Aktienzertifikat, ISIN-Karte, Turbinenschaufel und technische Blaupause, Illustration mit AI erstellt.

Lockheed Martin stock (ISIN US5398301094) was last at USD 505.41 on the NYSE on October 2, 2026, at 4:00 p.m. ET, down 0.02 percent from the prior close. The stock remains well above its 52-week low of USD 437.25 but below the high of USD 692.00, leaving the market focused on execution rather than demand alone.

UBS raises its price target

According to Yahoo Finance on September 8, 2026, UBS upgraded Lockheed Martin from Neutral to Buy and raised its 12-month price target from USD 581 to USD 674. The bank tied the change to missile demand, F-35 sustainment and expected growth in Missiles and Fire Control.

The target revision is the clearest bullish counterpoint to the stock's recent trading level. UBS also projected a 9 percent revenue compound annual growth rate through 2028, while identifying production capacity and execution as conditions for the thesis.

Backlog reaches USD 230 billion

Lockheed Martin's second-quarter 2026 sales rose 11 percent year over year to USD 20.1 billion, and adjusted earnings per share reached USD 7.94 versus USD 1.46 in the prior-year quarter, according to Lockheed Martin in its July 23, 2026 results release. The quarter also produced a 3.2:1 book-to-bill ratio and a record USD 230 billion backlog.

Management raised its 2026 outlook to sales of USD 79.75 billion-USD 81.75 billion, segment operating profit of USD 8.5 billion-USD 8.7 billion, and free cash flow of USD 7.0 billion-USD 7.2 billion, the same release shows. The figures improve visibility, but cash conversion and fixed-price program execution remain the central operating tests.

Stock stays below its yearly high

Lockheed Martin's market capitalization stood at USD 116.6 billion on October 2, 2026, with volume of 1,060,592 shares. The combination of a USD 505.41 last price, a USD 692.00 52-week high and the UBS target of USD 674 puts valuation and delivery against the backlog at the center of the next earnings debate.