Oppenheimer Downgrades Northrop Grumman to “Perform” on Valuation (NOC)

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Defense contractor Northrop Grumman Corporation ( NOC ) on Friday received a big downgrade from analysts at Oppenheimer & Co.

The firm cut its rating on NOC from "Outperform" to "Perform," noting the move was a valuation call. With the stock up 24% since early June, Oppenheimer notes there may not be much upside left.

Northrop Grumman shares were mostly flat in premarket trading Friday.


The Bottom Line
Shares of Northrop Grumman ( NOC ) have a 3.09% dividend yield, based on last night's closing stock price of $71.13. The stock has technical support in the $66-$67 price area. If the shares can firm up, we see overhead resistance around the $75 price level.

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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This article appears in: Investing , Stocks

Referenced Stocks: NOC

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