** RBC downgrades defense contractor Lockheed Martin LMT.N to "sector perform" from "outperform", cuts PT to $480 from $550
** Cites concerns about international sales of F-35 jet and U.S. budget pressure
** "We see limited risk of (F-35) order cancellations, but we believe headline risk remains an overhang ... under the Trump administration" - RBC
** Shares down 0.7% at $442.04 premarket
** Last week, U.S. President Donald Trump awarded Boeing BA.N the contract to build F-47 fighter jet over LMT
** Analysts' average rating is equivalent of "hold"; median PT $525- data compiled by LSEG
** Shares down ~8.4% YTD vs ~9% increase in S&P 500 Aerospace and Defense index .SPLRCAERO
(Reporting by Rashika Singh in Bengaluru)
((rashika.singh@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.