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NOC

Northrop Grumman

$270.99

3.49 (1.30%)

17:39
04/04/19
04/04
17:39
04/04/19
17:39

Northrop Grumman completes second ground test of Graphite Epoxy Motor

Northrop Grumman conducted its second ground test of a 63-inch diameter Graphite Epoxy Motor in Promontory, Utah. The company developed this new side-mounted rocket motor to add power to the United Launch Alliance Atlas V launch vehicle. The GEM 63 will fly on United Launch Alliance's Atlas V launch vehicle starting next year. The first ground test, conducted in September 2018, qualified the motor for use as a strap-on booster for the Atlas V. Today's test satisfies additional requirements for certification by the U.S. Air Force. In addition to the GEM 63 motor, Northrop Grumman is also developing a GEM 63XL motor for ULA's Vulcan Centaur rocket. Both versions of the GEM 63 family use common materials and processes to maintain a high-reliability, low-cost product. The first GEM 63XL case, which is the longest non-segmented, monolithic case ever manufactured, has already been wound at a new facility in Clearfield, Utah, and is currently in the structural qualification process.

NOC Northrop Grumman
$270.99

3.49 (1.30%)

01/14/19
01/14/19
UPGRADE
Target $302

Outperform
Northrop Grumman upgraded to Outperform on valuation at Credit Suisse
As previously reported, Credit Suisse analyst Robert Spingarn upgraded Northrop Grumman to Outperform from Neutral, while lowering his price target on the shares to $302 from $311. The analyst notes that the market was not kind to Northrop Grumman in 2018, with the stock trading down about 21% for the year and about 32% off its high in April. While some of this weakness was endemic to its own circumstances, the analyst thinks it is more broadly a reflection of lofty expectations for future budgets and correspondingly elevated ex-pension valuations seen for both Northrop Grumman and across the defense hardware space this past spring. At this point, however, the selloff has created an attractive opening, he contends.
01/14/19
01/14/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Snap (SNAP) upgraded to Neutral from Sell at Citi with analyst Mark May saying Snap is down 70% since February 2018 and its current valuation is below Twitter (TWTR) and Facebook's (FB) current and four-year average multiple. 2. Northrop Grumman (NOC) upgraded to Outperform from Neutral at Credit Suisse with analyst Robert Spingarn saying the market was not kind to Northrop Grumman in 2018, with the stock trading down about 21% for the year and about 32% off its high in April. 3. Alcoa (AA) and Teck Resources (TECK) were upgraded to Buy from Neutral at Goldman Sachs. 4. Sherwin-Williams (SHW) upgraded to Outperform from Market Perform at Wells Fargo with analyst Stephen East saying with the equity now trading at an 18.0 times PE multiple and the company growing 2019 EPS an estimated 17%-plus year over year, East believes investors appreciate the potential risks, but might not be appreciating the potential upside. 5. Emerson (EMR) upgraded to Neutral from Sell at Citi with analyst Andrew Kaplowtiz saying he continues to expect slowing growth before larger project activity begins to contribute. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
02/01/19
GSCO
02/01/19
DOWNGRADE
GSCO
Buy
Northrop Grumman downgraded to Buy from Conviction Buy at Goldman Sachs
02/01/19
02/01/19
DOWNGRADE

Buy
Goldman removes Northrop Grumman from Conviction List due to near-term concerns
As previously reported, Goldman Sachs analyst Noah Poponak removed Northrop Grumman from the firm's Conviction List as the company is guiding that top-line outgrowth will not happen in 2019 or 2020. " They often beat revenue guidance but we may not see that in the near-term," Poponak stated in his note to investors. However, he still thinks Northrop will post several years of fast organic revenue growth into the middle of next decade given its long list of major program wins and he maintains a Buy rating on the stock.

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