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Lockheed Martin upgraded, Northrop Grumman downgraded at Wells Fargo

Published 01/16/2018, 02:15 PM
© Reuters.  Lockheed Martin upgraded, Northrop Grumman downgraded at Wells Fargo
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  • Lockheed Martin (LMT -1.1%) is lower after Wells Fargo (NYSE:WFC) downgrades shares to Market Perform from Outperform while upgrading Northrop Grumman (NOC -0.2%) to Outperform from Market Perform.
  • The firm thinks LMT will see less near-term organic growth and margin expansion vs. peers, while it views NOC as among the defense companies with the fastest organic growth.
  • Wells also downgrades Rockwell Collins (COL -0.6%) to Market Perform from Outperform, saying shares have been driven mostly by the company's upcoming acquisition by United Technologies (NYSE:UTX), and upgrades Spirit Aerosystems (SPR +1.3%) on valuation.
  • Now read: Transferring Defense Manufacturing To India: The Next Step Of Globalization


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