BTIG lowered the firm’s price target on Northrop Grumman (NOC) to $575 from $600 and keeps a Buy rating on the shares after its Q1 results. The company’s B-21 LRIP loss provision had put a damper on earnings, and while improved production capabilities are a good thing, it is more common that the Air Force procures fewer aircraft than expected, the analyst tells investors in a research note.
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