RBC Downgrades Northrop Grumman to Sector Perform Amid Lower Growth Outlook
RBC Capital Markets downgraded Northrop Grumman (NOC) from Outperform to Sector Perform, citing a reduced growth outlook. The firm also lowered its price target for the defense contractor from $640 to $525. While acknowledging Northrop's strong execution compared to peers, RBC noted that future comparable growth may not support current valuations. In contrast, Arxis was upgraded by RBC Capital Markets, though specific details on the upgrade were not provided in the article. The downgrade of Northrop Grumman led to a 1.2% drop in its stock price during Friday's trading session.
Tickers: $NOC
Topics: defense price target stock downgrade