Northrop Grumman is one of Wall Street’s most overbought stocks

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Northrop Grumman is one of Wall Street’s most overbought stocks

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also beat analyst expectations. But the stock’s 14-day RSI of 81.4 could indicate shares have gotten ahead of themselves. Analysts polled by FactSet maintain a consensus hold rating on the stock, with their average price targets implying roughly 4% downside over the next year. To be sure, UBS analyst Gavin Parsons recently highlighted Northrop as the bank’s top pick among aerospace and defense stocks, citing awards of two of the Pentagon’s top three “priority programs” as well as higher defense spending. Snack maker Kellanova also made the cut, although the stock is overbought solely due to its planned acquisition by Mars for $36 billion , announced last week. Shares have surged more than 44% in 2024 and now have an RSI of 88.1, the highest on the screen. K YTD mountain Kellanova stock. The deal, at a planned $83.50 per share, is the largest acquisition on Wall Street in 2024 so far. Other overbought names on the list include insurer Aflac and California utility Edison International .

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#Northrop #Grumman #Wall #Streets #overbought #stocks

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