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RTN

Raytheon

$197.46

4.11 (2.13%)

17:24
01/12/18
01/12
17:24
01/12/18
17:24

Raytheon awarded $641.8M government contract

Raytheon Integrated Defense Systems, Woburn, Massachusetts, is being awarded an indefinite-delivery/indefinite-quantity contract with cost-plus-incentive-fee and cost-plus-award-fee line items with a stated maximum value of $641,758,000. Under this contract, the contractor will perform Ballistic Missile Defense System test related activities for multiple radar platforms that includes planning, executing, and analyzing sensor performance in BMDS flight tests and ground tests for each test event defined in the BMDS integrated master test plan. The work will be performed in Huntsville, Alabama; and Colorado Springs, Colorado. The ordering period is from Jan. 12, 2018, through Jan. 11, 2023, with a one year option period provided in the contract. The Missile Defense Agency, Huntsville, Alabama, is the contracting activity.

  • 21

    Feb

RTN Raytheon
$197.46

4.11 (2.13%)

11/28/17
WELS
11/28/17
NO CHANGE
Target $202
WELS
Outperform
Raytheon price target raised to $202 from $195 at Wells Fargo
Wells Fargo analyst Sam Pearlstein raised his price target for Raytheon to $202 from $195, while reiterating an Outperform rating on the shares. Although the adoption of ASU 2017-07 in 2018 will have no impact on reported EPS and cash flow, it will shift certain pension-related items from operating to non-operating, and therefore, reported EBIT will be affected. The analyst expects the ''optics'' of the change to benefit Raytheon's reported operating margin and EV/EBITDA multiples the most in his coverage universe.
12/05/17
BERN
12/05/17
NO CHANGE
BERN
Defense earnings, free cash flow should benefit from tax reform, says Bernstein
Bernstein analyst Douglas Harned believes Defense earnings and free cash flow should benefit substantially in the near-term from Senate and House bills that lower the corporate tax rate from 35% to 20%, as large U.S. defense companies currently pay effective tax rates of 25%-30%. The analyst expects those effective rates to move to a 16%-20% range. Harned prefers Raytheon (RTN) among major U.S. defense contractors, based on international sales, but believes Huntington Ingalls (HII) should benefit most from tax reform and Lockheed Martin (LMT) least.
12/12/17
JPMS
12/12/17
DOWNGRADE
Target $210
JPMS
Neutral
Raytheon downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Seth Seifman downgraded Raytheon ((RTN) to Neutral while raising his price target for the shares to $210 from $190. The analyst cites valuation for the downgrade following the stock's strong performance. He believes Raytheon has well positioned defense franchises but feels Northrop Grumman (NOC) offers more upside.
12/12/17
12/12/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Juno Therapeutics (JUNO) downgraded to Market Perform from Outperform at Wells Fargo, with analyst Jim Birchenough saying that while data for JCAR017 continue to support a potential best-in-class profile in aggressive lymphoma, the current valuation already reflects dominant market positioning over Gilead's (GILD) Yescarta. 2. General Dynamics (GD) downgraded to Underweight from Neutral at JPMorgan, with analyst Seth Seifman saying Gulfstream questions are unlikely to be resolved in the near term. Demand for G500/600 is ok for now, but uncertainty about ultimate production levels and the pace of the learning curve mean the transition will remain a near term overhang, the analyst said. Seifman also downgraded Raytheon (RTN) to Neutral from Underweight. 3. Adobe (ADBE), Barracuda (CUDA), GoDaddy (GDDY), Fortinet (FTNT) and Check Point (CHKP) downgraded to Neutral from Overweight and CoStar Group (CSGP), Imperva (IMPV) and Monotype Imaging (TYPE) downgraded to Underweight from Overweight at JPMorgan by analyst Sterling Auty in conjunction with his 2018 annual outlook for Software Technology. The analyst does not expect the "exceptional performance" in Software during 2017 to repeat in 2018. 4. Spark Therapeutics (ONCE) downgraded to Neutral from Buy at UBS, with analyst Carter Gould seeing a "challenging setup" for the shares after the Phase 1/2 SPK-8011 data in hemophilia A fell short of expectations. The analyst removed SPK-8011, or $29 per share, and early-stage pipeline value, or $12 per share, from his model. He finds it difficult to be more constructive on Spark shares in the near-term. 5. Electronic Arts (EA) downgraded to Buy from Conviction Buy at Goldman Sachs by analyst Christopher Merwin to reflect fewer near-term catalysts around in-game monetization of non-sports titles. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

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ROST

Ross Stores

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BMRN

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FL

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$46.38

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0.6 (2.12%)

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Earnings
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SNAP

Snap

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  • 07

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MDT

Medtronic

$86.94

1.65 (1.93%)

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MRK

Merck

$59.11

-0.05 (-0.08%)

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$0.00

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MRK

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ESALY

Eisai

$0.00

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MCD

McDonald's

$162.38

0.865 (0.54%)

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CNI

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EXR

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EWP

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SSNLF

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  • 10

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XOM

Exxon Mobil

$80.26

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  • 30

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UAL

United Continental

$70.47

0.93 (1.34%)

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SPX

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EWY

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LMT

Lockheed Martin

$326.46

0.98 (0.30%)

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GXP

Great Plains Energy

$32.77

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Westar Energy

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UAL

United Continental

$70.47

0.93 (1.34%)

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KRNY

Kearny Financial

$14.25

-0.1 (-0.70%)

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YRD

Yirendai

$28.42

-0.33 (-1.15%)

18:02
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AAPL

Apple

$188.18

-0.18 (-0.10%)

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Samsung

$0.00

(0.00%)

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  • 10

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