On July 24, Lockheed Martin rose 3.01% in regular trading, trading at $585.27/share, with turnover of $139 million. The stock extended its post-earnings rally as multiple investment banks raised their price targets following the prior session's strong Q2 results.

On the news front, Baird raised its price target from $640 to $700, while Deutsche Bank lifted its target from $550 to $581, maintaining a Hold rating. The upgrades followed Q2 earnings released on July 23, which significantly beat expectations: EPS came in at $7.94, exceeding the consensus estimate of $7.09-$7.19 by approximately 12%; revenue reached $20.063 billion, up 10.5% year-over-year and roughly 3.7% above expectations. The company also raised its full-year guidance, projecting sales of $79.75-$81.7 billion and EPS of $29.95-$30.65, both above prior market estimates. Additionally, the company benefits from a corporate alternative minimum tax exemption under the omnibus bill, while its record backlog of $230 billion reinforces long-term growth visibility.

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