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Northrop Grumman Slashed to “Sell” at UBS; Says Recent Run Overdone (NOC)

By Dividend.com,  September 13, 2012, 09:22:29 AM EDT

Defense contractor Northrop Grumman Corporation ( NOC ) on Thursday caught a big downgrade from analysts at UBS.

The firm slashed its rating on NOC from "Neutral" to "Sell" with a $64 price target, suggesting a 6% downside to the stock's Wednesday closing price of $67.93.

UBS noted the move was a valuation call, with the stock running up 31% over the past year.

Northrop Grumman shares were unchanged in premarket trading Thursday.

The Bottom Line
Shares of Northrop Grumman ( NOC ) have a 3.24% dividend yield, based on last night's closing stock price of $67.93. The stock has technical support in the $63-$65 price area. If the shares can firm up, we see overhead resistance around the $70-$72 price levels.

Northrop Grumman Corporation ( NOC ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: NOC



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