Stifel upgrades Northrop Grumman to buy, says defense stock can jump nearly 30%
Investors should buy Northrop Grumman because defense industry stocks are cheap and the market will eventually realize it, according to investment firm Stifel.
Shares of the company have gained 20% year to date but has underperformed the broader market over a longer time period.
Analyst Joseph DeNardi upgraded the defense stock to buy from hold, saying in a note to clients on Thursday night that the market was too bearish on the outlook for the industry.
