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UTX

United Technologies

$122.96

-5.04 (-3.94%)

, RTN

Raytheon

$177.66

-9.56 (-5.11%)

06:10
06/12/19
06/12
06:10
06/12/19
06:10

Third Point opposes United Technologies-Raytheon deal, NY Post reports

Dan Loeb's Third Point opposes the proposed deal between United Technologies (UTX) and Raytheon (RTN), The New York Post's Carleton English and Josh Kosman report, citing a source. Loeb and Bill Ackman, who came out against the deal this week, supported UTC's plans to streamline operations and spin off its Otis elevator and Carrier air conditioning businesses to focus on aerospace. Reference Link

UTX

United Technologies

$122.96

-5.04 (-3.94%)

RTN

Raytheon

$177.66

-9.56 (-5.11%)

UTX United Technologies
$122.96

-5.04 (-3.94%)

06/10/19
JPMS
06/10/19
NO CHANGE
JPMS
United Technologies, Raytheon deal has 'real rationales' for both, says JPMorgan
JPMorgan analyst Seth Seifman sees "real rationales" on both sides from the United Technologies (UTX) and Raytheon (RTN) merger. The deal is a surprise but brings the benefits of scale, diversification in the face of cyclical uncertainty, and financials, Seifman tells investors in a research note. United Technologies gets to de-lever with Raytheon's balance sheet and Raytheon holders get compensated in return, according to the analyst. He has a Neutral rating on Raytheon and an Overweight rating on United Technologies.
06/10/19
FBCO
06/10/19
NO CHANGE
Target $175
FBCO
Neutral
Economic benefits from United Technologies, Raytheon deal seem 'modest,' says Credit Suisse
Credit Suisse analyst Robert Spingarn notes that United Technologies (UTX) and Raytheon (RTN) announced an agreement to combine in an all-stock "merger of equals," creating an A&D company with $74B in pro forma 2019 sales. While th3 deal achieves size and diversification, the economic benefits seem "modest," and he does not see additional scale that will materially deepen existing moats or enhance competitiveness. Further, the analyst sees relatively few opportunities to drive revenue synergies as the product portfolios for both companies do not appear to be particularly complementary. Spingarn has a Neutral rating and $175 price target on Raytheon's shares.
06/10/19
06/10/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Tesla (TSLA) upgraded to Buy from Neutral at Roth Capital with analyst Craig Irwin saying while he believes rising battery costs are likely to be a 2019 margin headwind, demand from China will likely be stronger than most anticipate, reducing the potential for lowered 2019 unit guidance. 2. Analog Devices (ADI) double upgraded to Buy from Sell at Goldman Sachs with analyst Toshiya Hari saying he is turning more bullish on the company as he believes analog units are tracking below trend. 3. United Technologies (UTX) upgraded to Buy from Neutral at Seaport Global with analyst Josh Sullivan saying at first glance, the company's merger-of-equals with Raytheon (RTN) offers a "compelling combination" in large defense and commercial aerospace growth verticals. 4. Adecoagro (AGRO) upgraded to Buy from Neutral at Citi with analyst Fernanda Perez Da Cunha citing the improvement in commodity prices and a slight reduction in long term maintenance capital expenditures for sugar and ethanol for the upgrade. 5. Sirius XM (SIRI) upgraded to Outperform from Neutral at Credit Suisse with analyst Brian Russo saying the stock decline has brought an attractive risk/reward opportunity. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/11/19
VERT
06/11/19
DOWNGRADE
Target $203
VERT
Hold
Raytheon downgraded to Hold from Buy at Vertical Research
Vertical Research analyst Robert Stallard downgraded Raytheon (RTN) and lowered his price target for the shares to $203 from $216 following the company's merger agreement with United Technologies (UTX).
RTN Raytheon
$177.66

-9.56 (-5.11%)

06/10/19
GHSC
06/10/19
UPGRADE
Target $165
GHSC
Buy
Seaport upgrades United Technologies to Buy on 'compelling combination'
Seaport Global analyst Josh Sullivan upgraded United Technologies (UTX) to Buy from Neutral with a $165 price target. The stock in premarket trading is up $6.82 to $138.97. At first glance, the company's merger-of-equals with Raytheon (RTN) offers a "compelling combination" in large defense and commercial aerospace growth verticals, Sullivan tells investors in a research note. Further, the growing importance of "quasi-commercial capabilities" offers upside to the $500M synergy target, adds the analyst. He believes the integration of Raytheon with United Technologies' commercial infrastructure is "ahead of the curve" with the Pentagon increasingly rewarding "commercial development/cycle speed."

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BHVN

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CE

Celanese

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F

Ford

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RTN

Raytheon

$178.55

2.45 (1.39%)

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UTX

United Technologies

$132.37

1.08 (0.82%)

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LMT

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ARES

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MEOH

Methanex

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SHIP

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SONM

Sonim

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KINS

Kingstone Companies

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BA

Boeing

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16.17 (4.48%)

, MSFT

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0.33 (0.24%)

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