The defense industry is experiencing one of the strongest demand cycles in recent times. Despite that, Northrop Grumman Corporation (NYSE:NOC)'s shares are down over 11% for the year, as of October 15, which has pushed the stock's valuation below its own historical multiples and the sector median.Jefferies Lowers Northrop Grumman (NOC) Price Forecast despite Steady Revenue Growth Outlook This raises the question about whether the market is punishing a weakness in the business or the stock's recent lumpiness. DON'T MISS: Lockheed Martin Corporation (LMT) Is Cheap and Lagging. Should Investors Buy the Dip?
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