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RTN

Raytheon

$212.58

3.05 (1.46%)

, LMT

Lockheed Martin

$354.66

4.43 (1.26%)

06:28
02/15/18
02/15
06:28
02/15/18
06:28

MITRE report criticizes Raytheon ground system for satellites, Bloomberg says

The Pentagon and Congress can have little confidence in any time or cost estimates Raytheon (RTN) or the Air Force provide for a ground control system to operate new Global Positioning System satellites, which was originally planned to be operational in October 2016, Bloomberg reports, citing a report to the Defense Department from nonprofit research firm MITRE. "The program office and the prime contractor demonstrated an inability to accurately project cost and schedule," MITRE said and raised the possibility of dropping the entire Raytheon project as "there are no show-stoppers in continuing to modernize" Lockheed Martin (LMT) existing ground network instead. Raytheon said the report "contains multiple factual errors, and because of this, the MITRE team reached inaccurate conclusions regarding the program's current progress, future schedule, and cost. We have communicated our concerns regarding these inaccuracies to both the Air Force and MITRE, and we confidently stand by our ability to deliver the full GPS OCX system within the current budget and by the June 2021 contractual deadline." Reference Link

RTN

Raytheon

$212.58

3.05 (1.46%)

LMT

Lockheed Martin

$354.66

4.43 (1.26%)

  • 21

    Feb

  • 07

    Mar

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    May

RTN Raytheon
$212.58

3.05 (1.46%)

01/29/18
BERN
01/29/18
NO CHANGE
Target $255
BERN
Outperform
Raytheon price target raised to $255 from $231 at Bernstein
Bernstein analyst Douglas Harned raised his price target for Raytheon to $255 from $231 based on a strong outlook for 2018 and subsequent years. The analyst reiterates an Outperform rating on the shares.
01/16/18
WELS
01/16/18
NO CHANGE
Target $215
WELS
Outperform
Raytheon price target raised to $215 from $202 at Wells Fargo
Wells Fargo analyst Sam Pearlstein price target for Raytheon to $215 from $202 ahead of quarterly results and to reflect tax reform. The analyst reiterates an Outperform rating on the shares.
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.
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.
LMT Lockheed Martin
$354.66

4.43 (1.26%)

02/06/18
ARGS
02/06/18
NO CHANGE
Target $385
ARGS
Buy
Lockheed Martin price target raised to $385 from $340 at Argus
Argus analyst John Eade raised his price target on Lockheed Martin to $385 and kept his Buy rating, with the stock outperforming relative to the broader market over the past quarter. Eade notes that a "GOP-controlled House, Senate and White House should bode well for defense spending", while the company's management has a history of "managing through challenges". The analyst adds that his new price target assumes "continued strong earnings based on increased U.S. and international defense spending".
01/30/18
WELS
01/30/18
NO CHANGE
Target $355
WELS
Market Perform
Lockheed Martin price target raised to $355 from $340 at Wells Fargo
Wells Fargo analyst Sam Pearlstein raised his price target for Lockheed Martin to $355 from $340 after the company reported Q4 results ahead of the Street helped by higher sales and a lower adjusted tax rate. The analyst reiterates a Market Perform rating on the shares.
01/30/18
BERN
01/30/18
NO CHANGE
Target $392
BERN
Market Perform
Lockheed Martin price target raised to $392 from $343 at Bernstein
Bernstein analyst Douglas Harned raised his price target for Lockheed Martin to $392 from $343 primarily based on a stronger defense budget outlook and higher Missiles & Fire Control growth. The analyst reiterates a Market Perform rating on the shares.
01/30/18
FBCO
01/30/18
NO CHANGE
Target $380
FBCO
Neutral
Lockheed Martin price target raised to $380 from $308 at Credit Suisse
Credit Suisse analyst Robert Spingarn raised his price target for Lockheed Martin to $380 from $308 after the company reported a "solid" quarter complicated by tax reform. The analyst reiterates a Neutral rating on the shares.

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