Group 1 - Northrop Grumman Corporation has secured a $233 million contract for the manufacture and delivery of an advanced lightweight torpedo for the US Navy, which includes a custom-designed warhead for increased lethality [1][2] - The contract involves integration and initial proof of manufacturing at facilities in Plymouth, Minnesota, and Allegany Ballistic Laboratory in West Virginia, developed in collaboration with the Australian Defense Force [2] - The company is leveraging over 80 years of innovative torpedo technology to accelerate the design qualification and manufacturing process for the new torpedo [3] Group 2 - UBS analyst Gavin Parsons has raised Northrop Grumman's stock price target to $777 from $770, maintaining a Buy rating, while Citigroup has increased its target to $715 from $654, also reiterating a Buy rating [4] - Northrop Grumman is recognized as a global aerospace and defense technology company focused on national security and human discovery, designing and manufacturing advanced systems for various sectors [5]

Northrop Grumman Corporation (NYSE:NOC) is among the 10 Best Defense Stocks to Buy in the S&P 500. On January 15, UBS analyst Gavin Parsons lifted the firm’s price target on the stock to $777 from $770, while keeping a Buy rating. Northrop Grumman Corporation (NOC) a Moderate Buy, Analysts See 4% Upside The update follows Citigroup’s adjustment on the stock on January 13, when the firm hiked its price target on the company’s shares to $715 from $654 and reiterated a Buy rating, as it revised its position ...