Northrop Grumman Corporation (NYSE:NOC) is listed among the 10 Best Defense Stocks to Buy in the S&P 500. Analyst Gavin Parsons raised the price target to $777, predicting a 4% upside. Citigroup also increased its price target to $715, citing strong momentum in the aerospace and defense sector.

With a Moderate Buy rating from 13 analysts, Northrop Grumman Corporation (NYSE:NOC) has an average share price target of $692.08, suggesting a 3.78% upside. The company recently secured a $233 million contract to manufacture an advanced lightweight torpedo for the U.S. Navy, enhancing lethality.

Another notable contract for Northrop Grumman Corporation (NYSE:NOC) is a $94.3 million deal to build a new second-stage solid rocket motor for missile programs. The company is a major defense contractor, specializing in aeronautics, space, defense electronics, and mission solutions.

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Read more at Yahoo Finance: Northrop Grumman Corporation (NOC) a Moderate Buy, Analysts See 4% Upside