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Fly News Breaks for February 20, 2019
AJRD
Feb 20, 2019 | 07:27 EDT
SunTrust analyst Michael Ciarmoli raised his price target on Aerojet Rocketdyne to $45 and kept his Buy rating, saying that while it missed on expected Q4 revenues, the quarter showed a 11% sequential increase in total backlog. The analyst adds that the "sizable" bookings for the THAAD/Patriot system are expected to materialize and believes that the company is well positioned to "benefit from increased missile defense and hypersonic missile spending".
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