Northrop Grumman price target raised to $643 from $614 at UBS

UBS analyst Gavin Parsons raised the firm’s price target on Northrop Grumman (NOC) to $643 from $614 and keeps a Buy rating on the shares. Northrop Grumman’s Q3 EPS and EBIT beat and raise were relatively uneventful, with revenue slightly below consensus, but with guidance reiterated, and initial 2025 revenue growth in-line at 3%-4%, the analyst tells investors in a research note. The past three quarters have seen steady operational performance and beats and raises in many areas of the business, the firm notes. Northrop Grumman is demonstrating a return to high quality growth, margin expansion and free cash flow generation, while executing on two of the DoD’s highest multi-decade priority programs, UBS argues.