Morgan Stanley cuts Northrop Grumman's PT

Morgan Stanley cuts price target on U.S. defence company Northrop Grumman NOC.N to $714 from $720, maintains "overweight" rating

New PT still an upside of 24% from stock's last close

Brokerage views Northrop Grumman’s nuclear modernization programs, B-21 stealth bomber and Sentinel missiles strongly aligned with U.S. goal of sustaining great-power status

However, brokerage recognizes continued risks around potential B-21 program charges, which could be negative in the short-term for the stock

Fourteen of 24 brokerages rate the stock "buy" or higher and 10 "hold"; their median PT is $673.5, according to data compiled by LSEG

As of last close, shares up 22.7% YTD