Bullish View On Adobe; Lockheed Martin Bags $622M+ Navy Contract
- August 17th, 2023
- 199 views
Adobe Inc. (Nasdaq: ADBE), a renowned software company specializing in creative and digital solutions, has received an upgrade from Neutral to Buy by BofA Securities, along with a raised price target from $575 to $630.
With $ADBE closing at $511.67 on Thursday, the adjusted price target suggests a potential upside of $118.33 or approximately 23.14%, according to the financial advisory firm's analysis.
In other news, Lockheed Martin Aeronautics, a unit of Lockheed Martin Corporation (NYSE: LMT), secured a $622,360,584 firm-fixed-price, cost-plus-fixed-fee contract for F-35 integration support to the government of Germany as an FMS customer. The contract includes program management, unique requirements, and training. The Naval Air Systems Command is overseeing the contract.
In after-hours, $LMT was trading at $448.00, up $1.32 (+0.30%).
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