Goldman Sachs Double Downgrades Northrop Grumman (NOC) to Sell
Goldman Sachs analyst Noah Poponak downgraded Northrop Grumman (NYSE: NOC) from Buy to Sell with a price target of $337.00.
The analyst comments "We downgrade Northrop Grumman (NOC) to Sell from Buy. In the medium-term, organic revenue growth is slower than the industry, margins are compressing, and free cash has less growth; all of which we think are below current market expectations with the stock trading at 22X CY21 pension-adjusted P/E post a 70% move higher off the December 2018 lows."
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Shares of Northrop Grumman closed at $374.57 yesterday.