BTIG analyst Andre Madrid raised the firm’s price target on Northrop Grumman (NOC) to $630 from $575 and keeps a Buy rating on the shares. Northrop Grumman reported “stellar” Q2 results, driven largely by profitability gains across all segments, the analyst tells investors in a research note. The stock is one of the best ways to play the growth in international defense spending at the prime level given the company’s already robust international portfolio, as well as its growing international backlog, BTIG argues.
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