Investment firm Susquehanna has revised its price target for Northrop Grumman (NOC, Financial), reducing it from $557 to $540. Despite the lowered target, Susquehanna maintains a Positive rating on the defense company's stock, reflecting continued optimism about its future performance.
The adjustment follows Northrop Grumman's recent first-quarter results, during which the company reported a record-breaking backlog. This substantial order book reinforces the firm's confidence that Northrop Grumman is strategically positioned to achieve growth in the medium term.
