Citi analyst Jason Gursky downgraded Northrop Grumman (NOC) to Neutral saying Defense stocks are now reaching fair value. The analyst this morning also downgraded to Neutral shares of Huntington Ingalls (HII) and General Dynamics (GD). Gursky keeps Buy ratings on Harris (HRS), L3 Technologies (LLL), Lockheed Martin (LMT) and Raytheon (RTN).

HII was awarded a $120.3M modification to a previously awarded contract to establish a quality-of-service improvements incentive. This special incentive will support the improved Quality of Life for Navy sailors stationed at Newport News Shipbuilding. Work is expected to be completed by April 2026. FY24 shipbuilding and conversion funds in the amount of $40M will be obligated at time of award and will not expire at the end of the current fiscal year. This contract was not competitively procured in accordance with 10 U.S. Code 3204. Naval Sea Systems Command is the contracting activity.

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here