Goldman Sachs upgraded Northrop Grumman (NOC) to Neutral from Sell with a price target of $521, up from $424. The company has a diversified defense portfolio that is likely to benefit from increased levels of defense spending in the near term, the analyst tells investors in a research note. The firm says Northrop is also the prime contractor on B-21 and Sentinel, two programs that are of strategic national importance and will likely prove to be durable sources of revenue over the long term.
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