Lockheed Martin (LMT +5.1%) has gained ~7.5% following well-received Q2 results and upgraded full-year guidance for both earnings and revenue.
Q2 results were "better than feared" and the rising backlog provides confidence in sustained growth over the medium term, but sales guidance implies a material slowdown in growth for H2, RBC's Michael Eisen says in maintaining his Sector Perform rating.
Stifel analyst Joseph DeNardi says the results leave unchanged his thesis that Lockheed's alignment with faster growing end markets and strong performance on the F-35 produce above average sales and earnings growth with less margin risk; he rates the stock a Buy.
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