Truist Securities Hikes Northrop Grumman Corporation (NOC) price target is $625, maintaining its purchase rating

Northrop Grumman Corporation (NYSE:NOC) in 10 Best Aerospace Stocks to Buy Now. On July 23, Truist Securities raised its stock price target from $550 to $625, repeating its stock purchase rating.

An aviation engineer inspects model aircraft engines in a factory-based environment.

The adjustment followed the company’s second quarter revenue call, and reported strong sequential sales growth and excellent sales performance amid robust demand for military aircraft and defense systems.

Truist Analysts noted the overall positive commentary as factors behind the price hike in Northrop Grumman Corporation (NYSE: NOC) Sentinel program, the company’s long-term growth potential, free cash flow, and overall positive commentary on the B-21 Raider program.

In the same week, several other major companies also raised their Northrop Grumman Corporation (NYSE: NOC) price targets. These included Baird, Bofa Securities, JPMorgan, and RBC Capital.

Northrop Grumman Corporation (NYSE: NOC) is an American aerospace and defense manufacturer. Stock prices have risen 21% since the start of the year, and geopolitical tensions have simmered in various parts of the world.

Although we acknowledge the potential of NOCs as investments, we believe certain AI stocks offer greater promotion opportunities and pose a risk of decline. If you’re looking for a highly undervalued AI stock that can make a significant profit from the tariff and supervision trends of the Trump era, check out our free report. Best Short-Term AI Stocks.

Read next: 13 Best Global Stocks to Buy Now and Best small cap defense stocks to buy according to hedge funds.

Disclosure: None.