UPDATE: Wolfe Research Assumes Northrop Grumman (NOC) at Outperform
Get Alerts NOC Hot Sheet
Rating Summary:
13 Buy, 12 Hold, 2 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 11
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Wolfe Research analyst Michael Maugeri assumes coverage on Northrop Grumman (NYSE: NOC) with an Outperform rating.
The analyst commented, "Northrop Grumman has reramped Independent R&D (IRAD) spend as a portion of sales over the last couple of years to just below 3%. We expect it to stay in that range, but to grow in absolute dollars. We view IRAD spend as an enabler of growth that shows up outside the forecast period of most models. We found a strong correlation between IRAD spend and organic sales growth six years into the future. We also think it justifies the valuation premium Northrop Grumman’s stock has been ascribed over recent history."
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 $333.97 yesterday.
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