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Cowen & Co. Sticks to Their Buy Rating for Northrop (NOC)

Cowen & Co. analyst Cai von Rumohr maintained a Buy rating on Northrop (NOCResearch Report) today and set a price target of $510.00. The company’s shares closed last Thursday at $454.46.

According to TipRanks.com, Rumohr is a 4-star analyst with an average return of 3.8% and a 60.3% success rate. Rumohr covers the Technology sector, focusing on stocks such as Raytheon Technologies, Science Applications, and Caci International.

Currently, the analyst consensus on Northrop is a Moderate Buy with an average price target of $502.50.

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Based on Northrop’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $8.8 billion and net profit of $955 million. In comparison, last year the company earned revenue of $9.16 billion and had a net profit of $2.2 billion.

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Virginia-based Northrop Grumman Corp. is a global aerospace and defense technology company. It operates through the following business segments: Aeronautics Systems, Defense Systems, Mission Systems, and Space Systems.

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