Northrop Grumman (NOC) Stock Price Target Raised at Drexel Hamilton
NEW YORK (TheStreet) -- Northrop Grumman's (NOC) - Get Report price target was upped to $235 from $207 at Drexel Hamilton on Tuesday morning. The firm has reiterated its "buy" rating on the stock.
The higher price target comes after the Falls Church, VA-based defense contractor posted strong results for the 2016 first quarter last week.
The company reported earnings of $2.59 per share, above expectations of $2.49 per share. Revenue was $5.96 billion, surpassing estimates of $5.93 billion.
"With what looks to be a transition year in 2016 topline-wise (flattish/+LSD), we see growth accelerating in 2017 and we believe the combination of F-35 (major sub) and B-21 (prime) could result in NOC having the best topline growth outlook in large-cap defense," the firm wrote in a note.
Shares of Northrop Grumman are lower by 0.49% to $207.28 on Tuesday morning.
Separately, TheStreet Ratings Team has a "Buy" rating with a score of A- on the stock.
The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, increase in net income, good cash flow from operations and notable return on equity.
The team believes its strengths outweigh the fact that the company shows low profit margins.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: NOC
