Why These Defense Stocks Are Gaining This Week

7. Lockheed Martin Corporation (NYSE:LMT)

Weekly Gains: 4.04%

Lockheed Martin Corporation (NYSE:LMT)’s share price has plummeted 10% this year, especially after Q4 2024 earnings call on January 28 in which the company shared a cautious profit outlook for fiscal 2025. However, the stock gained 4.04% over the past week amid recent contract awards.

Last week, the company clinched a $233 million contract to procure extra-long-lead-time materials to support the production of Lot 10 of the Marine Corps’ CH-53K helicopter. Lockheed Martin Corporation (NYSE:LMT) also secured a $28 million modification contract for the F-35 Joint Strike Fighter Jet Program.

Earlier this month, Lockheed Martin Corporation (NYSE:LMT) was awarded a $2.8 billion THAAD development contract by the Missile Defense Agency (MDA) for a period of five years.

Wall Street analysts are bullish on Lockheed Martin Corporation (NYSE:LMT), with a consensus Buy rating for the stock. They also anticipate an average share price upside potential of 25%.