Lockheed Martin Golden Dome and PAC-3 Contract Surge: Why the $186 Billion Backlog Makes the 22% Pullback a Buy Opportunity
Lockheed Martin (LMT) at $540.33 sits 22% below its 52-week high with a $186.4B backlog, a fresh $4.8B PAC-3 contract, and Golden Dome optionality. Forward P/E of 16.87x against base-case fair value of $595 — defense compounder thesis with embedded margin recovery into 2026-2027.