Wells Fargo analyst Matthew Akers lowered the firm’s price target on Northrop Grumman (NOC) to $525 from $547 and keeps an Overweight rating on the shares. The firm notes Northrop Grumman lost nearly $10B of market cap on a less than $0.5B charge, which could potentially set it up for more future B-21 work. Post Wells’ callback, it still sees Northrop Grumman as best positioned in the face of budget uncertainty.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NOC:
- Northrop Grumman price target lowered to $550 from $575 at RBC Capital
- Northrop Grumman price target lowered to $571 from $583 at UBS
- Northrop Grumman price target lowered to $550 from $600 at Truist
- Northrop Grumman price target lowered to $540 from $557 at Susquehanna
- Northrop Grumman price target lowered to $550 from $585 at BofA
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue