Lockheed Martin Upgraded to Buy at UBS on 3.2x Book-to-Bill and F-35 Backlog
Question
Lockheed Martin Upgraded to Buy at UBS on 3.2x Book-to-Bill and F-35 Backlog
Direct answer
UBS lifted Lockheed Martin (LMT) to a Buy rating, pointing to structural backlog conversion across tactical aircraft and precision munitions. The brokerage highlighted the firm's 3.2x book-to-bill ratio as an indicator of durable revenue momentum spanning the next 24 to 36 months. The forecast projects 9% annual sales growth coupled with double-digit EPS gains. Trading under 14x free cash flow, the stock offers defensive cash flow characteristics amid broader equity market volatility.
- Original publisher
- Market Ontology
- Evidence through
- 2026-09-09
- Published
- 2026-10-20
- Revision
- 1 · 2026-10-20
Cite as: Market Ontology, “Lockheed Martin Upgraded to Buy at UBS on 3.2x Book-to-Bill and F-35 Backlog”, revision 1, evidence through 2026-09-09. https://marketontology.com/market-events/2026-09-09/lockheed-martin-upgraded-to-buy-at-ubs-on-3-2x-book-to-bill-and-f-35-backlog-da270a
How this development reaches the affected companies
| Asset | Exposure and channel | Direction | Evidence |
|---|---|---|---|
| LMT | brokerage upgrade driving institutional allocation into aerospace and defense | Up1-5d | UBS upgraded LMT to Buy citing 3.2x book-to-bill ratio and 9% sales growth outlook. |
| ITA | defense prime constituent weighting lift across US aerospace ETF | Up1-5d | LMT represents a core weighting in US aerospace and defense benchmark indices. |
Does this development affect your holdings?
Enter your holdings to check them against this and other recent developments, review the decision that matters most, then set a monitor.
Review your initial audit before choosing ongoing portfolio scanning at $79/month.
What happened next
| Asset | Call | Base close | +1 day | +5 days | +20 days |
|---|---|---|---|---|---|
| ITA | Updisagreed | 219.45 2026-09-09 | -0.51% | -1.90% | -7.22% |
| LMT | Updisagreed | 524.46 2026-09-09 | +1.08% | +2.44% | -4.81% |
Closing prices from stored daily bars; returns measured from the last close on or before the event date. Not a recommendation.
No verifiable public source recorded for this card.
Related
- 2026-10-21Northrop Grumman backlog hit a record $110 billionBA ITA NOC
- 2026-10-21Northrop Grumman posts record $110B backlog and guides 2027 growth to 7%ITA NOC
- 2026-10-20Iran's Revolutionary Guards claim an integrated air-defense network shot down a US MQ-9 drone over the Strait of HormuzCL1! GC1! ITA
- 2026-10-20President Trump says the United States is continuing economic and military pressure on IranCL1! GC1! ITA
- 2026-10-20Iran's Revolutionary Guards claim an advanced air-defense system shot down a US MQ-9 drone over HormuzBZ=F DXY ITA
- 2026-10-20President Trump says the United States is hitting Iran economically and militarilyBZ=F DXY ITA
- 2026-10-20Iranian officials say Tehran is preparing for possible renewed US and Israeli attacks rather than a quick war-ending dealBZ=F ITA TLT
- 2026-10-20US envoy Tom Barrack says Washington is leaving oil-for-security approach in Middle EastBZ=F GLD LMT
See today's live cards
Public pages are published 24 hours after the product shows them. Desk shows every catalyst, event and causal reading as it happens, mapped to your holdings.