Northrop Grumman (NOC) PT Raised to $333 at Jefferies Following 3Q

Jefferies raised its price target on Northrop Grumman (NYSE: NOC) to $333.00 (from $269.00) while maintaining a Hold rating following the company's 3Q earnings report. Jefferies raised 2017 EPS estimates to $13.20 from $12.70 to reflect the Q3 beat. 2018 and 2019 EPS estimates increased by 1-2% to $13.60 and $15.15 from $13.45 and $14.85, respectively due to better results within AS and TS.

2017 estimates of $25.5BB (up from $25.2BB prior) compares to management's guidance of $25.5BB. The B-21 and F-35 programs give NOC leading positions on two of the DOD's largest programs, and NOC's capability gives it a say in shaping the competitive landscape in large scale cyber, national security space, and autonomous vehicles.

You May Also Be Interested In

• Natera (NTRA) PT Raised to $270 at BTIG
• Public Storage (PSA) PT Raised to $338 at Truist Securities
• Ares Management, L.P. (ARES) PT Raised to $153 at TD Cowen