Analysts See a 19% Upside to Northrop Grumman Corporation (NOC)

Northrop Grumman Corporation (NYSE:NOC) is among the 7 Best Defense Dividend Stocks to Buy, with a dividend yield of 1.58% as of the close of business on December 22.

On December 16, Morgan Stanley’s Kristine Liwag cut the firm’s price target on the stock to $714 from $720, while maintaining an Overweight rating on the shares. In a research note to investors, the analyst said the firm was bullish on the aerospace and defense sector heading into 2026, with demand continuously rising faster than supply.

Morgan Stanley’s adjustment follows Alembic Global analyst Peter Skibitski’s update a day earlier, when it upgraded Northrop Grumman Corporation (NYSE:NOC)’s rating to Overweight from Neutral with a share price target of $662.

Moreover, on December 12, Citigroup initiated coverage on the stock with a Buy rating and announced a share price target of $654.

As of the close of business on December 22, Wall Street analysts have a consensus Strong Buy rating on the stock, with a one-year average share price target of $685.31, representing an upside of 19%.

Northrop Grumman Corporation (NYSE:NOC) is one of the largest defense contractors in the world. It is engaged in the design, development, integration, and maintenance of advanced systems across aeronautics, space, defense electronics, and mission solutions.

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Disclosure: None.