Raytheon Price Target Increased to $87.00 by Analysts at Cowen and Company (RTN)
Investment analysts at Cowen and Company increased their price target on shares of Raytheon (NYSE:RTN) from $77.00 to $87.00 in a note issued to investors on Friday, ARN reports. The firm currently has a “market perform” rating on the stock. Cowen and Company’s price objective indicates a potential upside of 8.80% from the company’s current price.
RTN has been the subject of a number of other recent research reports. 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. Separately, 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. Finally, analysts at Credit Suisse raised their price target on shares of Raytheon from $79.00 to $87.00 in a research note to investors on Friday. They now have an “outperform” rating on the stock. Twelve research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Raytheon currently has an average rating of “Hold” and an average price target of $78.19.
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’s 50-day moving average is $75.65 and its 200-day moving average is $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 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $1.51 earnings per share. The company’s revenue for the quarter was down 3.4% on a year-over-year basis. Analysts expect that Raytheon will post $5.66 EPS for the current fiscal year.
Raytheon Company together with its subsidiaries, is a technology company specializing in defense, homeland security and other government markets worldwide.