LMT trades 12.5% below Wall Street's consensus target of $638.22.
Last 12 months price action with 12-month analyst target path
The base valuation assumes LMT achieves its forward estimates and maintains a stable P/E multiple of 18.5x. This scenario reflects the blended consensus of 37 Wall Street analysts, balancing both positive catalysts and macroeconomic headwinds over the next 12 months.
As of November 7, 2026, Lockheed Martin Corporation (LMT) has a Wall Street consensus price target of $638.22, based on estimates from 37 covering analysts. With the stock currently trading at $567.08, this represents a potential upside of +12.5%. The company has a market capitalization of $130.88B.
Analyst price targets range from a low of $560.00 to a high of $835.00, representing a 43% spread in expectations. The median target of $615.00 aligns closely with the consensus average.
The current analyst consensus rating is Buy, with 23 analysts rating the stock as a Buy or Strong Buy,13 rating it Hold, and 1 rating it Sell or Strong Sell. The positive sentiment balance indicates moderate optimism about the stock prospects.
From a valuation perspective, LMT trades at a trailing P/E of 26.4x and forward P/E of 18.5x. Analysts expect EPS to grow +9.0% over the next year.
Our proprietary valuation model, which blends historical multiples with forward estimates, suggests a base-case price target of $879.40, with bear and bull scenarios of $554.02 and $1158.70 respectively. Model confidence stands at 54/100, reflecting moderate uncertainty in projections.
| Company | Market Cap | Price | Target | Upside Potential | Rating | Fwd P/E | Analysts |
|---|---|---|---|---|---|---|---|
 RTXRTX Corporation | $255.4B | $189.53 | $232.18 | +22.5% | Buy | 24.7x | 26 |
 NOCNorthrop Grumman Corporation | $74.6B | $525.01 | $616.62 | +17.4% | Buy | 17.7x | 37 |
 GDGeneral Dynamics Corporation | $95.8B | $354.06 | $415.29 | +17.3% | Buy | 20.5x | 35 |
 BAThe Boeing Company | $137.1B | $173.40 | $243.73 | +40.6% | Buy | — | 55 |
 LHXL3Harris Technologies, Inc. | $48.4B | $259.89 | $337.00 | +29.7% | Buy | 21.4x | 34 |
 HIIHuntington Ingalls Industries, Inc. | $11.4B | $288.74 | $346.00 | +19.8% | Hold | 14.7x | 27 |
 TDGTransDigm Group Incorporated | $67.0B | $1197.01 | $1461.22 | +22.1% | Hold | 29.1x | 39 |
 HEIHEICO Corporation | $46.3B | $332.65 | $394.78 | +18.7% | Buy | 52.5x | 36 |
 LDOSLeidos Holdings, Inc. | $16.7B | $132.68 | $151.89 | +14.5% | Buy | 11.2x | 28 |
 BAHBooz Allen Hamilton Holding Corporation | $10.3B | $85.35 | $92.00 | +7.8% | Buy | 14.0x | 23 |
Quick answers to the most common questions about buying LMT stock.
Lockheed Martin Corporation (LMT) has a consensus 12-month price target of $638.22, implying 12.5% upside from $567.08. The 37 analysts covering LMT see moderate appreciation potential.
LMT has a consensus rating of "Buy" based on 37 Wall Street analysts. The rating breakdown is predominantly bullish, with 23 Buy/Strong Buy ratings. The consensus 12-month price target of $638.22 implies 12.5% upside from current levels.
With a forward P/E of 18.4929x, LMT trades at a relatively low valuation. The consensus target of $638.22 implies 12.5% appreciation, suggesting meaningful undervaluation.
The most bullish Wall Street analyst has a price target of $835 for LMT, while the most conservative target is $560. The consensus of $638.22 represents the median expectation. Our quantitative valuation model projects a bull case target of $1159 based on optimistic growth and margin assumptions. These targets typically reflect 12-month expectations.
LMT is heavily covered by Wall Street, with 37 analysts providing price targets and ratings. Of these, 0 have Strong Buy ratings, 23 have Buy ratings, 13 recommend Hold, and 1 have Sell or Strong Sell ratings. Higher analyst coverage generally indicates greater institutional interest and more reliable consensus estimates.
The 12-month LMT stock forecast based on 37 Wall Street analysts shows a consensus price target of $638.22, with estimates ranging from $560 (bear case) to $835 (bull case). The median consensus rating is "Buy". Our proprietary valuation model produces a base case fair value of $879, with bear/bull scenarios of $554/$1159.
Our quantitative valuation model calculates LMT's fair value at $879 (base case), with a bear case of $554 and bull case of $1159. The model uses discounted cash flow analysis, historical growth rates, and margin mean-reversion to project FY+2 earnings, then applies an appropriate P/E multiple. The model confidence score is 54/100.
LMT trades at a forward P/E ratio of 18.5x based on next-twelve-months earnings estimates compared to a trailing P/E of 26.4x. The lower forward P/E indicates analysts expect earnings growth. A forward P/E is useful for comparing valuations when earnings are expected to change significantly.
Wall Street analysts are optimistic on LMT, with a "Buy" consensus rating and $638.22 price target (12.5% upside). 23 of 37 analysts rate it Buy or Strong Buy. This information is for educational purposes only. Always conduct your own research, consider your financial situation, and consult a financial advisor before making investment decisions.
LMT analyst price targets range from $560 to $835, a 43% moderate spread showing some variance in outlooks. Differences stem from varying assumptions about revenue growth, profit margins, competitive dynamics, and valuation multiples. The $638.22 consensus represents the middle ground. Our model's $554-$1159 range provides an independent fundamental perspective.
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