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JP Morgan Bearish on Northrop Grumman as it Trades at Premium Compared to Peers (NOC)

By
January 8th, 2013

JP Morgan Bearish on Northrop Grumman as it Trades at Premium Compared to Peers (NOC)

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On Tuesday analysts at JP Morgan downgraded Northrop Grumman Corporation (NOC) to “Underweight.”

The firm downgraded NOC from “Neutral” to “Underweight” because the security company trades at a 13% premium compared to its peers.

Northrop Grumman shares were flat in premarket trading on Tuesday. The stock is up +18.6% over the past year.

The Bottom Line
Shares of Northrop Grumman (NOC) have a 3.20% dividend yield, based on last night’s closing stock price of $68.67. The stock has technical support in the $63-$64 price area. If the shares can firm up, we see overhead resistance around the $70-$71 price levels.

Northrop Grumman Corporation (NOC) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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Disclaimer: Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. The author is not registered as an investment adviser. The author may or may not hold positions in the securities mentioned in this article or video. The author relies upon the "publisher's exclusion" from the definition of "investment adviser" as provided under Section 202(a)(11) of the Investment Advisers Act of 1940 and corresponding state securities laws.