Deutsche Bank downgrades Lockheed Martin, maker of the sick aircraft F 35 touted as world best

 Shares of US arms firm Lockheed Martin, maker of the fifth-generation fighter jet F-35, was downgraded to Hold from Buy at Deutsche Bank with a price target of $523, down from $611. An analyst at the bank named "China's combat aircraft modernization efforts" as a reason behind the decision, after videos emerged online suspected of showing alleged China's six-generation fighter jet.

"We're downgrading Lockheed to Hold [from Buy] as we feel our prior thesis struggles to hold water and we have increased concern on the long-term support for F-35 in the face of China's combat aircraft modernization efforts," Deutsch Bank analyst Scott Deuschle said.

Deuschle said he sees "the reveal of further advancements in combat aircraft capabilities by China as potentially undermining long-term [Department of Defense] demand for the F-35 aircraft."

Anonymous