UPDATE: J.P. Morgan Upgrades Northrop Grumman Corporation to Neutral, Raises PT on Strong Operating Performance

In a report published Monday, J.P. Morgan analyst Joseph B. Nadol III upgraded the rating on Northrop Grumman Corporation

from Underweight to Neutral, and raised the price target from $64.00 to $68.00. In the report, Nadol noted, “NOC is a well run defense company that has demonstrated strong operating performance in a difficult environment. Although we believe the company faces a challenging operating outlook, particularly as operating margin declines from peak levels, the company has shown a willingness to be aggressive with portfolio shaping and we think the stock could benefit if management goes down this path again. As a result, we rate NOC N.” Northrop Grumman Corporation closed on Friday at $71.56.