Northrop Grumman shares rise in billionaire Jeffrey Talpins’ portfolio despite recent price target reductions by Citi and Jefferies.
Northrop Grumman (NOC) has been named a top pick in billionaire Jeffrey Talpins’ filings, reflecting confidence in the defense contractor despite mixed analyst sentiment. The stock is up 8% over the past year but down 6.3% year-to-date, trading below revised price targets from major banks.
Citi recently lowered its price target for NOC to $587 from $628, maintaining a Buy rating ahead of second-quarter earnings. Jefferies also cut its target twice, most recently to $580, citing cost pressures from the B-21 program and rising capital expenditures. Analysts suggest aerospace firms may post earnings beats but could disappoint on guidance.
The stock remains under scrutiny as investors weigh near-term challenges against long-term defense sector growth.