Northrop Grumman price target lowered to $540 from $557 at Susquehanna

Susquehanna lowered the firm’s price target on Northrop Grumman (NOC) to $540 from $557 and keeps a Positive rating on the shares. The firm updated its model following Q1 results as the company disclosed a record backlog which gives confidence the company remains positioned for growth over the medium-term.