** Bernstein trims PT on defense stocks Lockheed Martin LMT.N, Northrop Grumman NOC.N and General Dynamics GD.N on post-election sentiment, but sees lower valuations making them "much more attractive"
** Cuts PT on LMT to $548 from $607, GD to $298 from $331 and NOC to $533 from $578
** "We are at a point now in which there is potential for the investment budget to break through Congressional caps at a time of high threats," brokerage says
** In 2024, LMT rose 7.2%, GD gained 1.5%, NOC was up 0.25%
(Reporting by Utkarsh Shetti in Bengaluru)
((UtkarshUmesh.Shetti@thomsonreuters.com;))
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