Merrill Lynch: Northrop Grumman is a buy ahead of results

[MoneyGuy]

NEW YORK (MarketWatch) -- Merrill Lynch told investors Monday to buy Northrop Grumman Corp. ahead of its earnings report this week. "Given the strength in outlays, all the large cap defense names reported strong earnings across a broad base of programs," the investment firm said in a note. Earnings were particularly strong for Army programs with General Dynamics Combat Systems posting strong numbers, and that bodes well for Northrop, Merrill Lynch said. Northop reports its results on Tuesday. Merrill Lynch has a $93 price objective for Northrop shares. At last check, the stock was changing hands at $69.05, up a fraction.

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