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