Apr. 28 at 1:32 AM
$NOC — sold off post-earnings despite solid Q1.
$9.9B revenue, up 4% YoY, EPS beat. Market punished it for a
$2.5B capex increase tied to accelerating B-21 Raider production 25% faster. Morgan Stanley calls it a buying opportunity — PT
$745. UBS
$745, Citi
$742. Record backlog ~
$95-96B. F/A-XX fighter contract decision coming August. Chart sitting at critical
$575 support after falling from
$773 highs.
🐂 Hold
$575 + reclaim
$637 =
$672 →
$700 range, avg analyst PT
$720+
🐻 Lose
$575 =
$540 →
$520 gap fill
⚠️ F/A-XX contract decision Aug 2026 — win = massive re-rate, loss = pain
🟢 Record
$95B+ backlog = multi-year revenue visibility locked in
🟢 Morgan Stanley, Bernstein, Citi all calling the selloff overdone
🚩
$2.5B capex build 2027-2029 compresses near-term free cash flow
🚩 5-year earnings trend declining 9.3%/yr — structural concern bulls have to answer
#NOC #NorthropGrumman #Defense #Aerospace #hovdid