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Northrop Grumman upgraded to Outperform with $386 price target at Bernstein
Bernstein analyst Douglas Harned upgraded Northrop Grumman to Outperform from Market Perform with a price target of $386, down from $438. The analyst has a positive view of the company's long-term position, with high exposure to Department of Defense budget growth areas. Northrop has low export exposure, which is now a positive with coronavirus and oil prices putting other budgets at risk, Harned tells investors in a research note