Raytheon Rating Increased to Buy at Drexel Hamilton (RTN)
Raytheon (NYSE:RTN) was upgraded by investment analysts at Drexel Hamilton from a “hold” rating to a “buy” rating in a note issued to investors on Friday, TheFlyOnTheWall.com reports. The firm currently has a $108.00 target price on the stock, up from their previous target price of $79.00. Drexel Hamilton’s target price points to a potential upside of 13.60% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at RBC Capital upgraded shares of Raytheon from a “sector perform” rating to an “outperform” rating in a research note to investors on Thursday. They now have a $114.00 price target on the stock, up previously from $91.89. Separately, analysts at Deutsche Bank raised their price target on shares of Raytheon from $94.00 to $96.00 in a research note to investors on Tuesday, January 14th. They now have a “hold” rating on the stock. Finally, analysts at UBS AG raised their price target on shares of Raytheon from $76.00 to $90.00 in a research note to investors on Monday, January 6th. They now have a “neutral” rating on the stock. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $91.12.
Raytheon (NYSE:RTN) traded up 3.46% on Friday, hitting $95.07. The stock had a trading volume of 6,102,097 shares. Raytheon has a 1-year low of $52.50 and a 1-year high of $95.50. The stock’s 50-day moving average is $89.75 and its 200-day moving average is $81.3. The company has a market cap of $30.372 billion and a price-to-earnings ratio of 15.83.
Raytheon (NYSE:RTN) last issued its quarterly earnings data on Thursday, January 30th. The company reported $1.46 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.34 by $0.12. The company had revenue of $3.30 billion for the quarter, compared to the consensus estimate of $5.95 billion. Analysts expect that Raytheon will post $6.38 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.