Lockheed Martin stock bounced Wednesday after a dreadful Tuesday. Despite the higher stock price, Wall Street has some concerns about the defense contractor, and one analyst even downgraded the shares.

Shares of security and Aerospace company Lockheed Martin (NYSE:LMT) fell 6.6% in the morning session after the company reported disappointing second-quarter results and sharply lowered its full-year profit forecast.

Lockheed Martin still has a solid business, but there are few immediate catalysts. Lockheed Martin's (NYSE: LMT) quarter was loaded with cost overruns and write-offs, causing the defense contractor to miss expectations.