RBC Capital raised the firm’s price target on Northrop Grumman (NOC) to $540 from $500 and keeps a Sector Perform rating on the shares. The company reported a “strong” Q3 and it operating margin narrative is encouraging, but much of the upside is reflected in the stock, the analyst tells investors in a research note. Northrop Grumman is relatively well positioned regardless of the 2024 Presidential election, even though delays in its GBSD – Ground Based Strategic Deterrent – program are possible, the firm added.
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