Northrop Grumman price target lowered to $574 from $595 at Wells Fargo

Wells Fargo lowered the firm’s price target on Northrop Grumman (NOC) to $574 from $595 and keeps an Overweight rating on the shares. The firm thinks the story on Northrop Grumman remains the same despite noise in the guide around re-segmenting/divestiture. Wells remains bullish and sees further budget clarity as a catalyst for the stock.