The American company has played an outsized role in Tel Aviv’s bombing and invasion of Gaza since Oct. 7.
by Nick Cleveland-Stout, Responsible Statecraft
Over the weekend, Iran launched over 300 missiles at Nevatim Air Base, a base in southern Israel that houses U.S.-made F-35 fighter jets. Israeli Prime Minister Benjamin Netanyahu, who oversaw a strike on an Iranian consulate in Syria just a few weeks ago, has already promised to retaliate. Observers viewed these brewing tensions with concern, ringing the alarm bells of the breakout of a wider war.
Not JP Morgan analyst Seth Seifman. On Monday morning, Seifman upgraded JPMorgan’s outlook from “hold” to “buy” for Lockheed Martin, the manufacturer of Israel’s F-35s, and set a higher price target for the stock.
Seifman says the change was pre-planned, but noted that these developments could be good for business. “What we can say is that it’s a dangerous world and while that is not a sufficient condition for defense stocks to outperform,” he said, “it is a potential source of support, especially when they are under-owned.” JP Morgan owns $355 million worth of Lockheed Martin stock, about a third of which was bought in the last quarter of 2023.
Recent Posts
To Resist Trump, The Left Must Change, A Zero Hour Conversation With Norman Solomon
Take Action Now Norman Solomon and RJ Eskow discuss the challenges facing the Democratic Party and the need for a united front against the Trump…
An AI Dragnet Is Sweeping Up Immigrants
Take Action Now The U.S. government is activating a suite of algorithmic surveillance tools, developed in concert with major tech companies, to…
The ADL Has Been Going To Bat For Weapons Manufacturers
Take Action Now The Anti-Defamation League now says criticizing the use of US weapons is ‘antisemitic’.By Eli Clifton, Responsible…
America First? No, Corporations First.
Take Action Now Big corporations donated heavily to Trump’s inaugural fund. Just a few months later, federal cases against them are being dropped.…