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Fly News Breaks for September 17, 2015
RTN
Sep 17, 2015 | 06:38 EDT
RBC Capital upgraded Raytheon to Top Pick from Outperform and maintained its $132 price target. Analyst Robert Stallard believes Raytheon offers the most attractive balance of growth and valuation in an improved defense sector. Stallard said the US Department of Defense budget continues to strengthen and Raytheon has gained share due to an increase in R&D, and competitive contract wins and the next-gen jammer should fuel above-average domestic growth over the next few years.
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