Stock of the United States’ largest defence contractor Lockheed Martin was downgraded to Hold from Buy at Deutsche Bank by 14.5 percent, with a price target of $523
Maybe if there are no competitors. Even as monopolistic as the military aircraft industry is in the U.S., drones open up a lot of space for competition by being vastly cheaper.
Then there’s concern about long-term sales to foreign countries, plus the corresponding parts and maintenance revenues. The F-16 is flown by 25 other countries.
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More advanced hardware from a country the US see as an adversary sounds like it should be great for the stock of Lockheed and Co., actually.
Maybe if there are no competitors. Even as monopolistic as the military aircraft industry is in the U.S., drones open up a lot of space for competition by being vastly cheaper.
Then there’s concern about long-term sales to foreign countries, plus the corresponding parts and maintenance revenues. The F-16 is flown by 25 other countries.