Northrop Grumman price target raised to $520 from $500 at Argus

Argus raised the firm’s price target on Northrop Grumman to $520 from $500 and keeps a Buy rating on the shares after its Q3 earnings beat. The company has often delivered positive surprises to the Street, regardless of whether defense spending is rising or falling, or a Republican or a Democrat occupies the White House, though lately, U.S. defense spending in certain areas has increased, and this trend is likely to continue, the analyst tells investors in a research note. Argus adds that it has a favorable view of Northrop Grumman’s focus on international revenue diversification as well as on Space Systems, adding that it expects the ongoing geopolitical tensions to benefit sales and earnings going forward.