Key Highlights

● LMT closed at $509.74 on 9 October 2026.

● Market data consensus target is $634.50 from 21 analysts.

● The second data set shows a mean of $625.76 and a median of $620.

● Barclays initiated coverage on 9 October with a $554 target.

On Friday 9 October 2026, Lockheed Martin (NYSE:LMT), a member of the S&P 500, closed at $509.74. Analyst targets sit well above that level, with the consensus implying upside of about 22.8%. Recent broker revisions have mostly been upward.

What Is the Latest Analyst Price Target?

Two data sets give broadly similar but not identical pictures. Market data reports an average twelve-month target of $634.50 from 21 analysts, with a high of $735 and a low of $517. The second data set reports a mean of $625.76 and a median of $620 from 23 analysts, with a high of $756 and a low of $503.

Against the $509.74 close, that implies potential upside of about 22.8%. The market data figure would imply about 24.5%.

What Are Wall Street Analysts Saying?

Sentiment is best described as cautiously positive rather than enthusiastic. The second data set shows seven Strong Buy, two Buy, thirteen Hold and one Strong Sell.

Recent named broker activity is mixed. Barclays initiated coverage on 9 October 2026 at Equal Weight with a $554 target. On the same day TD Cowen cut its target from $600 to $570 while keeping a Hold rating. Rothschild & Co Redburn initiated at Buy with a $650 target on 6 October. UBS upgraded the shares from Neutral to Buy on 8 September, lifting its target from $581 to $674. Citigroup raised its target from $641 to $691 on 13 August with a Buy rating. In late July, Morgan Stanley raised its target from $653 to $690 (Equal Weight), RBC to $600 (Sector Perform), and Robert W. Baird set $700.

What Could Help the Stock Reach the Price Target?

For the shares to close the gap, investors would need to gain confidence in the company's earnings delivery and its defence order pipeline. The consensus target suggests analysts see room for a re-rating if programme execution improves and if budgets for major platforms stay supported. The UBS upgrade suggests some brokers see value at current levels. Market data also notes a 23-year record of dividend increases and a yield of about 2.7%.

What Could Prevent the Stock Reaching the Target?

The Hold rating dominating both data sets is a reminder that many analysts see balanced risks. Programme charges, delays or cost overruns on large fixed-price contracts can quickly erode margins. Government budget decisions and procurement priorities could also affect sentiment. Market data shows a debt-to-equity ratio of 2.34.

TD Cowen has just cut its target, and the lowest targets ($503 on the second data set, $517 on market data) are close to the current share price.

What Should Investors Watch Next?

Investors may wish to watch for target revisions after that report, changes in the ratings split and defence budget news.

Lockheed Martin Versus Its Analyst Targets

Lockheed Martin closed at $509.74 on 9 October 2026, against a market data consensus target of $634.50. Barclays initiated coverage on 9 October 2026 at Equal Weight with a $554 target.