Lockheed Martin Corp

LMT: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$942.00	Ybz	Nnvfbfbc

Trimming Lockheed's Fair Value Estimate to $437 and Updating Capital Allocation to Exemplary

Nicolas Owens

Dec 22, 2022

We have taken a fresh look at Lockheed Martin, and have shaved $10 from our fair value estimate, arriving at $437 per share, to account for the slow unwinding of bottlenecks in its labor and components supplies, which delay revenue recognition and add to costs as work drags out over time.

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