Raytheon Price Target Increased to $78.00 by Analysts at Deutsche Bank (RTN)
Equities researchers at Deutsche Bank upped their price target on shares of Raytheon (NYSE:RTN) from $75.00 to $78.00 in a research report issued on Friday, American Banking News.com reports. The firm currently has a “hold” rating on the stock. Deutsche Bank’s price target would indicate a potential downside of 2.45% from the stock’s previous close.
Shares of Raytheon (NYSE:RTN) opened at 79.96 on Friday. Raytheon has a one year low of $52.24 and a one year high of $78.67. The stock has a 50-day moving average of $75.65 and a 200-day moving average of $65.85. The company has a market cap of $25.786 billion and a price-to-earnings ratio of 13.49.
Raytheon (NYSE:RTN) last issued its quarterly earnings data on Thursday, October 24th. The company reported $1.60 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.33 by $0.27. The company had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter in the prior year, the company posted $1.51 earnings per share. The company’s quarterly revenue was down 3.4% on a year-over-year basis. On average, analysts predict that Raytheon will post $5.66 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on RTN. Analysts at Cowen and Company raised their price target on shares of Raytheon from $77.00 to $87.00 in a research note to investors on Friday. They now have a “market perform” rating on the stock. Separately, analysts at Sanford C. Bernstein raised their price target on shares of Raytheon from $85.00 to $92.00 in a research note to investors on Friday. They now have an “outperform” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Raytheon in a research note to investors on Friday. They now have a $82.00 price target on the stock. Twelve analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $78.19.
Raytheon Company together with its subsidiaries, is a technology company specializing in defense, homeland security and other government markets worldwide.
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