Northrop Grumman Corporation (NOC) Anticipates Europe Growth Even After Ukraine, Russia Cease Hostilities

Northrop Grumman Corporation (NYSE:NOC) is among the 10 Best Drone Stocks to Buy Right Now. On November 18, Matthew Akers, an analyst at BNP Paribas Exane, initiated coverage of the stock on a bullish note, assigning an Outperform rating and a price target of $710.

Separately, during an interview with Reuters last week, the company’s head of global business development, Steve O’Bryan, said that he expects continued growth in Europe even after Russia and Ukraine reach a ceasefire.

While he did not provide specific figures, O’Bryan anticipates that countries in the region will restore their depleting arsenal amid a realization that current levels of stockpile were insufficient for a similar conflict in the future. He further said that the expansion will be driven by partnerships, without requiring the company to increase its local presence.

Northrop Grumman Corporation (NYSE:NOC) has a workforce of around 2,200 in Europe, representing just over 2% of its global staff. It is collaborating with Rheinmetall on the F-35 fuselage and earlier this month announced signing an agreement with MBDA in Germany to strengthen Germany’s air and missile defense capabilities.

During his talk, O’Bryan also mentioned encouraging prospects from the Middle East and Asia-Pacific region amid heightened tensions, while adding that the pause in hostilities in Gaza had so far not affected demand for weapons, and that a similar trend is expected in Europe.

Northrop Grumman Corporation (NYSE:NOC) is one of the largest defense contractors in the world. It is engaged in the design, development, integration, and maintenance of advanced systems across aeronautics, space, defense electronics, and mission solutions.

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