Lockheed Martin Stock Dips As BofA Analyst Lowers EPS Estimates, Forecast After Air Force Contract Setback

Lockheed Martin Corporation (NYSE:LMT) shares are trading lower on Monday after BofA Securities analyst Ronald J. Epstein downgraded the stock from Buy to Neutral and cut its price forecast from $685 to $485.

The analyst notes that on Friday, Lockheed Martin stocks took a hit after the White House and U.S. Air Force (USAF) selected Boeing over the company as the winner of the $20 billion contract for the Next Generation Air Dominance (NGAD) ...