Wolfe Research upgraded Northrop Grumman (NOC) to Peer Perform from Underperform without a price target The stock’s relative performance versus its defense peers has improved and Northrop’s relative valuation versus the market is now less of a concern, the analyst tells investors in a research note. The firm says the company’s Q4 report was “pretty clean” with its free cash flow outlook intact and downside risk abating.
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