Raytheon Stock Rating Upgraded by Sterne Agee (RTN)
Raytheon (NYSE:RTN) was upgraded by equities research analysts at Sterne Agee from a “neutral” rating to a “buy” rating in a research note issued to investors on Friday, TheFlyOnTheWall.com reports. The firm currently has a $114.00 price objective on the stock, up from their previous price objective of $22.00. Sterne Agee’s price objective indicates a potential upside of 19.91% from the stock’s previous close.
RTN has been the subject of a number of other recent research reports. Analysts at Drexel Hamilton upgraded shares of Raytheon from a “hold” rating to a “buy” rating in a research note to investors on Friday. They now have a $108.00 price target on the stock, up previously from $79.00. Separately, 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. Finally, 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. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Raytheon has a consensus rating of “Buy” and a consensus price target of $91.12.
Raytheon (NYSE:RTN) traded up 3.46% during mid-day trading on Friday, hitting $95.07. 6,102,097 shares of the company’s stock traded hands. Raytheon has a one year low of $52.50 and a one 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 announced its earnings results on Thursday, January 30th. The company reported $1.46 EPS for the quarter, beating the Thomson Reuters 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. On average, analysts predict that Raytheon will post $6.38 earnings per share 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.
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