Goldman Sachs Downgraded the Defense Sector to Cautious; LLL, RTN, NOC Cut
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Goldman Sachs downgraded the Defense Sector from Attractive to Cautious, saying a extended spending downturn in possible.
The firm downgraded L-3 Communications (NYSE: LLL), Raytheon Co. (NYSE: RTN) from Buy to Neutral.
Northrop Grumman Corporation (NYSE: NOC) was downgraded from Neutral to Sell and added to the Conviction Sell List.
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