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Benzinga
Benzinga
Business
Akanksha Bakshi

BIZARRE: Big trouble at lockheed as classified program blowups trigger billions in losses - What They Never Told You

Ronald J Epstein Lockheed Martin LMT Aero Bank of America Securities BofA US Army
Lockheed Martin

Lockheed Martin Corp. (NYSE:LMT) reported $1.8 billion in charges in the second quarter, led by a classified Aeronautics program and two Rotary and Mission Systems projects, prompting Bank of America Securities (BofA) analyst Ronald J. Epstein to trim his outlook.

The analyst reaffirmed a Neutral rating and lowered his price forecast to $480 from $495, citing ongoing program challenges and limited near-term catalysts.

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