Defense contractor Northrop Grumman Corporation (
) on Thursday saw its rating and price target lowered by analysts
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
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
The Bottom Line
Shares of Northrop Grumman (
) 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 (
) 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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