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

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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