BNP Paribas Has a Positive Outlook on Northrop Grumman (NOC)

NOC -4.29% BNPQF 0.00%

Northrop Grumman Corporation (NYSE:NOC) is one of the best industrial stocks to buy. According to a report by The Fly dated November 18, analyst Matthew Akers from BNP Paribas Exane kicked off coverage of Northrop Grumman with an Outperform rating and a price target of  $710.

Independent of the analyst action, Northrop Grumman secured a contract valued at up to $100 million from the United States Air Force on November 26. The company is supposed to supply support services for the Air Force’s Stand-in Attack Weapon (SiAW) Subsystem for the long run. This is a core element in the service’s push to deploy new strike capabilities against protected targets.

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According to the contract notice, the award is a $100 million maximum reimbursement for costs, and it is a firm-fixed-price, IDIQ (indefinite-delivery/indefinite-quantity) agreement, active until December 31, 2034. The Air Force Lifecycle Management Center, situated at the Eglin Air Force Base in Florida, is managing this award. Northrop will carry out all contracted tasks in Baltimore, Maryland, where its advanced sensor and seeker manufacturing sites are present.

Northrop Grumman Corporation (NYSE:NOC) is a Virginia-based global aerospace and defense company that specializes in designing, building, and updating aircraft, missiles, defense systems, intelligence, surveillance, sensors, electronic warfare, and cyber solutions.

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