Raytheon Given New $75.00 Price Target at Deutsche Bank (RTN)
Equities research analysts at Deutsche Bank boosted their price target on shares of Raytheon (NYSE:RTN) from $71.00 to $75.00 in a research note issued to investors on Wednesday, Analyst Ratings Net reports. The firm currently has a “hold” rating on the stock. Deutsche Bank’s target price points to a potential upside of 1.28% from the stock’s previous close.
Raytheon (NYSE:RTN) traded up 0.22% on Wednesday, hitting $74.21. 824,982 shares of the company’s stock traded hands. Raytheon has a 1-year low of $52.24 and a 1-year high of $81.26. The stock’s 50-day moving average is $77.08 and its 200-day moving average is $68.60. The company has a market cap of $23.932 billion and a P/E ratio of 12.79.
Raytheon (NYSE:RTN) last posted its quarterly earnings results on Thursday, July 25th. The company reported $1.50 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.30 by $0.20. The company had revenue of $6.12 billion for the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter last year, the company posted $1.41 earnings per share. Raytheon’s revenue was up 2.1% compared to the same quarter last year. On average, analysts predict that Raytheon will post $5.66 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Jefferies Group raised their price target on shares of Raytheon from $66.00 to $87.00 in a research note to investors on Tuesday, September 10th. They now have a “buy” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Raytheon in a research note to investors on Friday, September 6th. They now have a $80.00 price target on the stock. Finally, analysts at Stifel Nicolaus downgraded shares of Raytheon from a “buy” rating to a “hold” rating in a research note to investors on Monday, August 26th. They now have a $77.00 price target on the stock. They noted that the move was a valuation call. Twelve research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $73.44.
Raytheon Company together with its subsidiaries, is a technology company specializing in defense, homeland security and other government markets worldwide.
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