Baird analyst Peter Arment lowered the firm’s price target on Northrop Grumman to $470.57 from $505 and keeps a Neutral rating on the shares. The firm said they reported solid 2Q24 results, beating top line, EPS, and FCF expectations, with key takeaways including no changes to B-21 cost estimates, 15% FCF CAGR through 2026, and 2024 guidance being raised on the top and bottom line.
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