Northrop Grumman (NOC) Stock Closed Higher Today on Analyst Upgrade and $3 Billion Buyback Plan

NEW YORK (TheStreet) -- Shares of Northrop Grumman climbed to close higher by 5.61% to $147.69 on heavy volume Friday, after the company was added to Goldman Sachs' "conviction buy" list and announced its new $3 billion buyback plan. The aerospace company was upgraded at Goldman Sachs to "conviction buy" from its previous "buy" rating. Analysts at the firm also raised the company's price target to $165 from $163. Goldman believes the company's position as the biggest subcontractor in the Pentag...