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Northrop Grumman (NOC) shares have been in a major downtrend since early March, and RBC analyst Ken Herbert advises against betting on a swift recovery. Herbert downgraded NOC this morning to “Sector Perform,” and reduced his price target on the defense giant to $525. His downwardly revised estimate still represents a 9% upside from here, though.
At the time of writing, Northrop Grumman stock is down about 38% versus its year-to-date high.
