# Morgan Stanley Raises Lockheed Martin Target to $835 After F-35 Framework By Enna Lee Canonical URL: https://www.tokenpost.com/news/investing/41036 Published: 2026-10-26T12:45:10.000Z Updated: 2026-10-26T12:45:10.000Z Section: Investing > Analyst Kristine Liwag pointed to a 10-year F-35 production framework and a missile ramp she described as on pace. Morgan Stanley raised its price target for Lockheed Martin to $835 from $690 and upgraded the defense contractor to overweight from equal weight. The new target is 38% above Friday’s closing price. Morgan Stanley analyst Kristine Liwag said the 10-year framework for F-35 Lightning II production “takes significant risk out of the stock.” She described the missile production ramp as on pace, with mid-teens growth in missiles and fire control offering upside. Liwag also pointed to third-quarter earnings as positive news on the munitions production ramp. Lockheed reached the framework with the U.S. government last week and raised its 2026 outlook after third-quarter results. The company’s [F-35 framework and outlook update]() provides context for the analyst’s assessment. ## Links in this article - [F-35 framework and outlook update](https://www.tokenpost.com/news/business/38655)