Market Wrap - Stock pick — Lockheed Martin

Steven Schultz from Momentum chose Lockheed Martin as his stock pick of the day.

My stock pick is an offshore counter, it is a US listed counter that is surprisingly one of the few that is not loved by the market at the moment. It's Lockheed Martin the worlds largest defence company which boasts the US military as a big client and investors are a bit nervous around democrats cutting defence spending in the months ahead. Outside of rumours they have strong balance sheets, great quality cashflows, great earnings visibility and we are expecting low double digit US dollar returns."