Why Lockheed Martin Stock Flew Higher on Friday

Group 1 - Lockheed Martin's shares rose nearly 3% following an analyst's price target increase, outperforming the S&P 500's less than 0.6% gain [1] - Wells Fargo analyst Matthew Akers raised Lockheed Martin's price target to $476 per share from $468, maintaining an equal weight (hold) recommendation [2] - The price target adjustment is influenced by growing interest in U.S. defense stocks from international markets, although current interest remains muted [3] Group 2 - The Trump administration's Department of Government Efficiency (DOGE) is implementing staffing and budget cuts across federal agencies, creating uncertainty for companies reliant on government contracts [4][5] - The defense and aerospace industries are particularly affected due to their reliance on military contracting [5] - There is investor hesitation regarding the U.S. defense sector amid ongoing uncertainty about the extent of DOGE's cuts [6]