Lockheed Martin Stock Is Down About 20% From Its High: What a $613 Fair Value Could Mean

Lockheed Martin stock is down about 20% from its peak, despite strong demand for its defense products and a substantial backlog. A valuation model suggests the stock could reach $613 per share by December 2028, implying a 10.4% total return or a 3.7% annualized return from its current price of $555, based on assumptions of 5% revenue growth, 10% operating margins, and a 17.9x P/E multiple. Investors are now focusing on the company’s execution in converting its backlog into sustained earnings and improved margins, rather than just new contract announcements.

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