Northrop Grumman (NOC) Stock Price Target Raised at Drexel Hamilton

NEW YORK (TheStreet) -- Northrop Grumman's (NOC - Get Report) price target was upped to $235 from $207 at Drexel Hamilton on Tuesday morning. The firm has reiterated its "buy" rating on the stock.

The higher price target comes after the Falls Church, VA-based defense contractor posted strong results for the 2016 first quarter last week.

The company reported earnings of $2.59 per share, above expectations of $2.49 per share. Revenue was $5.96 billion, surpassing estimates of $5.93 billion.

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