CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:
We decrease our 12-month target price by $17 to $736, as we assume NOC will trade at P/E multiple of 23.0x our 2027 EPS estimate, a premium to NOC's three-year average forward P/E of 19.6x but close to the peers' average forward P/E of 23.8x. We trim our 2026 EPS estimate by $1.04 to $28.61 and also cut our 2027 EPS forecast by $0.76 to $31.99. NOC's fundamentals remain robust, anchored by a record $96 billion backlog providing over two years of revenue visibility. The company reaffirmed 2026 guidance for mid-single-digit organic sales growth and segment operating margins of low- to mid-11%. We see strong multi-year momentum driven by four key growth engines: B-21 (approaching 10% of revenue with production accelerating 25%), Sentinel ICBM (6%-7%, growing toward 10%), missile defense (10%), and weapons/munitions (10%). With capacity investments enabling NOC to scale production and the company achieving improved ROIC on major programs, we remain confident in sustainable growth extending into 2027 and beyond.