Defense contractor Northrop Grumman Corporation (
) on Thursday saw its price target cut significantly by analysts at
The firm said it lowered its target for NOC from $85 to $76 on a
valuation call. That new target suggests a smaller 11% upside to
the stock's Wednesday closing price of $68.59.
Citigroup maintained its "Buy" rating on NOC, however, noting
that fundamentals remain strong.
Northrop Grumman shares were mostly flat in premarket trading
The Bottom Line
Shares of Northrop Grumman (
) have a 2.74% dividend yield, based on last night's closing stock
price of $68.59. The stock has technical support in the $64 price
area. If the shares can firm up, we see overhead resistance around
the $72 price level.
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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