Truist Securities Hikes Northrop Grumman Corporation (NOC)'s Price Target To $625, Maintains Buy Rating

Northrop Grumman Corporation (NYSE:NOC) is among the 10 Best Aerospace Stocks to Buy Now. On July 23, Truist Securities raised the stock’s price target to $625 from $550 and reiterated a Buy rating for its shares.

The adjustment followed the company’s second-quarter earnings call, in which it reported strong sequential sales growth and outstanding operating performance, amid robust demand for its military aircraft and defense systems.

Truist analysts noted Northrop Grumman Corporation (NYSE:NOC)’s progress on the Sentinel program, the company’s long-term growth potential, free cash flow, and the overall positive commentary around the B-21 Raider program as factors behind the price target hike.

During the same week, several other leading firms also raised their price targets for Northrop Grumman Corporation (NYSE:NOC). These included Baird, BofA Securities, JPMorgan, and RBC Capital.

Northrop Grumman Corporation (NYSE:NOC) is an American aerospace and defense manufacturer. The stock has gained 21% year-to-date, with geopolitical tensions simmering in different parts of the world.

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