BTIG analyst Andre Madrid raised the firm’s price target on Northrop Grumman (NOC) to $680 from $630 and keeps a Buy rating on the shares. The company reported “strong” Q3 performance while its second B-21 entered flight testing as it explores ways to accelerate the program with customer, the analyst tells investors in a research note. Following the $477M charge taken in Q1 associated with a process change and higher material costs, Northrop Grumman is also in discussions with the Air Force to accelerate production, the firm added.
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