Standpoint Research Downgrades Lockheed Martin (LMT) to Hold; Time to Take Profits
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Price: $586.29 --0%
Rating Summary:
17 Buy, 17 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 7 | Down: 17 | New: 11
Rating Summary:
17 Buy, 17 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 7 | Down: 17 | New: 11
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Standpoint Research downgraded Lockheed Martin (NYSE: LMT) from Buy to Hold.
Standpoint analyst, Ronnie Moas, said, "LMT is now 1500 bps ahead of the S&P in an up market year-to-date even though it is a low-beta name. There remains uncertainty with regards to government spending going forward. When we put this recommendation out, the shares were trading at $71 and the market had over-reacted to that concern. With LMT now at $81, we can no longer leave our highest recommendation attached to this name. LMT is a low-beta name and was in an out-of-favor industry, due to fears of government budget cuts -- 85% of LMT revenues come from the U.S. This has never been our favorite name in the sector or even in its industry. LMT was a name generated from our high paying dividend stocks report. The dividend yield is currently 5%, but now that dividend names have gone back in favor, we are selling into this strength."
For an analyst ratings summary and ratings history on Lockheed Martin click here. For more ratings news on Lockheed Martin click here.
Shares of Lockheed Martin closed at $81.41 yesterday.
Standpoint analyst, Ronnie Moas, said, "LMT is now 1500 bps ahead of the S&P in an up market year-to-date even though it is a low-beta name. There remains uncertainty with regards to government spending going forward. When we put this recommendation out, the shares were trading at $71 and the market had over-reacted to that concern. With LMT now at $81, we can no longer leave our highest recommendation attached to this name. LMT is a low-beta name and was in an out-of-favor industry, due to fears of government budget cuts -- 85% of LMT revenues come from the U.S. This has never been our favorite name in the sector or even in its industry. LMT was a name generated from our high paying dividend stocks report. The dividend yield is currently 5%, but now that dividend names have gone back in favor, we are selling into this strength."
For an analyst ratings summary and ratings history on Lockheed Martin click here. For more ratings news on Lockheed Martin click here.
Shares of Lockheed Martin closed at $81.41 yesterday.
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