Update: Deutsche Bank Raising Price Target On Northrop Grumman
Deutsche Bank has a Buy rating and is raising its price target on shares of Northrop Grumman Corporation (NYSE: NOC). The price target went to $74 from $69.
In a note to clients, Deutsche Bank writes, "A&D companies will begin reporting 2Q results on July 20. We expect strength in commercial aerospace to continue where growth appears to be accelerating and mgmt. confidence in the recovery increasing. Defense we expect will remain a valuation/cash deployment story. As we discuss in greater detail in this note, we would be buyers of BA, HXL, BEAV, TGI, GR and GD into the Q. We have also made a number of adjustments to our estimates/price targets which can be seen on figure 3 of this report."
Shares of NOC gained 1 cent yesterday to close at $70.00.
