Morgan Stanley raised the firm’s price target on Northrop Grumman (NOC) to $765 from $714 and keeps an Overweight rating on the shares. Q4 earnings topped estimates and Northrop closed 2025 with a record $95.7B backlog, reflecting accelerating broad-based demand for its defense products, the analyst tells investors. Multiple potential awards suggest upside to 2026 growth, the analyst added.
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