BUZZ-Morgan Stanley cuts Northrop Grumman's PT

Reuters12-16 20:39
BUZZ-<a href="https://laohu8.com/S/MSPQL">Morgan Stanley</a> cuts Northrop Grumman's PT

** Morgan Stanley cuts price target on U.S. defence company Northrop Grumman NOC.N to $714 from $720, maintains "overweight" rating

** New PT still an upside of 24% from stock's last close

** Brokerage views Northrop Grumman’s nuclear modernization programs, B-21 stealth bomber and Sentinel missiles strongly aligned with U.S. goal of sustaining great-power status

** However, brokerage recognizes continued risks around potential B-21 program charges, which could be negative in the short-term for the stock

** Fourteen of 24 brokerages rate the stock "buy" or higher and 10 "hold"; their median PT is $673.5, according to data compiled by LSEG

** As of last close, shares up 22.7% YTD

(Reporting by Megavarshini G. Somasundaram in Bengaluru)

((Megavarshini.SomasundaramGnanasundari@thomsonreuters.com))

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