UPDATE: UBS Downgrades Northrop Grumman (NOC) to Sell; Large Risk to U.S. Budget
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Price: $82.19 +4.01%
Rating Summary:
1 Buy, 9 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
1 Buy, 9 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade NOC Now!
(Updated - September 13, 2012 10:55 AM EDT)
UBS downgraded Northrop Grumman (NYSE: NOC) from Neutral to Sell. PT raised $1 to $64.
Analyst, David E. Strauss, said, "NOC has outperformed the market and defense from the bottom, all but eliminating its historical discount to the group. We are downgrading our rating given NOC’s outsized exposure to the declining US budget and potential sequestration. Our forward EPS estimates are well below consensus expectations."
FY13 EPS estimates lowered from $7.20 to $7.05.
For an analyst ratings summary and ratings history on Northrop Grumman click here. For more ratings news on Northrop Grumman click here.
Shares of Northrop Grumman closed at $67.93 yesterday, with a 52 week range of $50.13-$70.20.
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UBS downgraded Northrop Grumman (NYSE: NOC) from Neutral to Sell. PT raised $1 to $64.
Analyst, David E. Strauss, said, "NOC has outperformed the market and defense from the bottom, all but eliminating its historical discount to the group. We are downgrading our rating given NOC’s outsized exposure to the declining US budget and potential sequestration. Our forward EPS estimates are well below consensus expectations."
FY13 EPS estimates lowered from $7.20 to $7.05.
For an analyst ratings summary and ratings history on Northrop Grumman click here. For more ratings news on Northrop Grumman click here.
Shares of Northrop Grumman closed at $67.93 yesterday, with a 52 week range of $50.13-$70.20.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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