Bernstein lifts Lockheed Martin PT on stronger long-term outlook

** Bernstein lifts PT on defense contractor Lockheed Martin LMT to $514 from $500, maintains "market perform" rating

** Cites positive view on the F-35 fighter jet production and outlook for space division, after the NGI contract win and progress in the co's new-gen space work

** Adds that co's missiles & fire control division remains "highest growth segment, with even more volume growth coming on

its Tactical Missiles programs"

** The new price target represents a 10% upside to the stock's last close

** Seven brokerages rate the stock "buy" or higher, 16 "hold" and one "sell"; their median PT is $487.50 - LSEG data

** Stock has risen 3% YTD