You gotta be careful with these things--NC State was a multi-score favorite over Georgia Southern to open last season, if I am remembering right-- but the dudes in Vegas tend to know what they're talking about. NC State opened against Troy as a 22-point favorite early in the week, and that line has since moved to NCSU -26, per Vegas Insider.
I don't think Troy is poised to jump out and surprise too many opponents. In particular the defense looks like too much of a liability, at least against power-conference teams. The Trojans have some experience to work with, but this is still a unit that allowed 5.7 yards per carry and 6.4 yards per play.
Is the gap between NC State and Troy 26 points, though? Ah, what the heck, this is still the sorta-preseason for NC State, and so I am legally bound to let enthusiasm fly. I'll take NC State 52-21. I will not eat any shoes if State fails to cover.