Defense contractor Northrop Grumman Corporation (
) 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
The Bottom Line
Shares of Northrop Grumman (
) 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 (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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, as well as a detailed explanation of
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