-- 獨立研究機構CFRA向提供了以下研究報告。 CFRA分析師的觀點總結如下：我們將NOC的12個月目標價下調17美元至736美元，因為我們預期NOC的本益比將達到23.0倍，高於其三年平均預期本益比19.6倍，但接近同業平均預期本益比23.8倍。我們將NOC的2026年每股收益預期下調1.04美元至28.61美元，並將2027年每股收益預期下修0.76美元至31.99美元。 NOC的基本面依然強勁，創紀錄的960億美元積壓訂單為其提供了超過兩年的收入可見度。該公司重申了2026年的業績指引，預計有機銷售額將實現中等個位數成長，各業務部門的營業利潤率將達到11%左右。我們看到強勁的多年成長勢頭，這主要得益於四大關鍵成長引擎：B-21轟炸機（產量成長速度加快，接近總收入的10%）、哨兵洲際彈道飛彈（佔6%-7%，正朝著10%的目標邁進）、飛彈防禦系統（10%）以及武器/彈藥（10%）。隨著產能投資使NOC能夠擴大生產規模，以及公司在主要項目上實現了更高的投資回報率，我們對公司持續增長至2027年及以後充滿信心。
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