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Fly News Breaks for September 17, 2019
UTX, RTN
Sep 17, 2019 | 07:24 EDT
As previously reported, Bernstein analyst Douglas Harned downgraded Raytheon to Market Perform from Outperform as he sees the companies' merger transferring value from Raytheon to United Technologies (UTX) at the agreed 43%/57% split. The analyst does not expect significant value creation from this deal, although not much value destruction either. He also lowered his price target for Raytheon to $212 from $219.
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