Deutsche Bank downgraded Northrop Grumman (NOC) to Hold from Buy with a price target of $542, down from $580. Northrop shares continue to trade at a sizeable premium to the group, but the company’s near- and medium-term EBIT growth outlook is “not clearly better,” the analyst tells investors in a research note. The firm is concerned about negative estimate revisions coming out of the Q2 results.
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