Target share price grows
American aircraft manufacturer signed contract to deliver 50 C-130J Super Hercules Aircraft for American air force, Marine Corps and Coast Guard.
American army should receive them between 2021 and 2025. Aircraft will be built at Lockheed Martin’s factory in Marietta, Georgia. The supply will be worth more than $3 billion.
It’s been third success in last 3,5 months, which the traditional manufacturer of military aircraft experienced. In the end of last year, Lockheed Martin signed contract for almost $2 billion on repair and maintenance of F-35 Lightning II. for American Navy. A month later, deal with Polish Government was signed for supply of 32 F-35 Lightning II. The transaction was worth $4,6 billion.
Not only these contracts, but also difficult relations between Iran and the US caused increase in the target share value of the company to $455 on average. Some larger investment houses reached even higher target values – UBS $470, Glodman Sachs $520, Stifel Nicolas $480 and Cowen $454. 13 out of 21 brokers of New York Stock Exchange recommend to buy shares, while the rest of brokers suggest keeping shares as share performance should outperform the market.