Northrop Grumman’s Rating, Target Cut at Bernstein (NOC)

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Defense contractor Northrop Grumman Corporation ( NOC ) on Thursday saw its rating and price target lowered by analysts at Bernstein.

The firm said it downgraded NOC from "Outperform" to "Market Perform" and lowered its price target from $78 to $77. That new target suggests a 10% upside to the stock's Wednesday closing price of $70.

NOC stock is up around 8% year-to-date, compared with a 6.5% gain in the benchmark S&P 500 Index.

Northrop Grumman shares were mostly flat in premarket trading Thursday.

The Bottom Line
Shares of Northrop Grumman ( NOC ) have a 2.86% dividend yield, based on last night's closing stock price of $70. The stock has technical support in the $65-$66 price area. If the shares can firm up, we see overhead resistance around the $72-$75 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.

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