Northrop Grumman price target raised to $750 from $685 at BofA

BofA analyst Ronald Epstein raised the firm’s price target on Northrop Grumman (NOC) to $750 from $685 and keeps a Buy rating on the shares. In a changing defense paradigm, Northrop is embracing new requirements to be more commercial and agile, without losing the value they bring to the customer as a defense prime, the analyst contends. Despite raising its price target on the shares, the firm notes it is lowering its adjusted EPS estimates on a weaker Mission Systems outlook and to adjust for share count.