Lockheed Martin (LMT) NewsBite - LMT Upgraded By Cowen & Co.

Posted: Wednesday, December 03, 2008 10:35 AM EDT

Lockheed Martin (LMT) was upgraded today by analysts at Cowen & Co. and the stock is now at $75.04, up $1.41 (1.91%) on volume of 475,213 shares traded. The analyst upped LMT to "Outperform" from "Market Perform" this morning, citing a $1.1 billion satellite contract the company signed with NASA. The analyst thinks the Obama administration will be good for LMT. Over the last 52 weeks the stock has ranged from a low of $67.38 to a high of $120.30. Lockheed Martin stock has been showing support around $69.39 and resistance in the $76.95 range. Technical indicators for the stock are bullish and S&P gives LMT a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on LMT the stock seems like it could be a candidate for a December out-of-the-money bull-put credit spread below the 65 range. [ABR-Seven Summits Strategic Investments NewsBite]

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