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RTN

Raytheon

$177.38

0.195 (0.11%)

, UTX

United Technologies

$125.30

0.45 (0.36%)

13:09
06/15/19
06/15
13:09
06/15/19
13:09

United Technologies, Raytheon stocks looking cheap, Barron's says

Shares of United Technologies (UTX) and Raytheon (RTN) came under pressure after the companies announced their merger, making both look appealing, Andrew Bary writes in this week's edition of Barron's. If the deal were to die, the stocks could rally in relief, but a knottier scenario would await if the merger goes forward, he notes. Investors would be getting a cheaply valued aerospace and defense conglomerate, but they would also have to tolerate being stuck in deal limbo until the closing, the author adds. Reference Link

RTN

Raytheon

$177.38

0.195 (0.11%)

UTX

United Technologies

$125.30

0.45 (0.36%)

  • 17

    Jun

  • 17

    Jun

  • 17

    Jun

RTN Raytheon
$177.38

0.195 (0.11%)

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."
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.
06/11/19
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).
UTX United Technologies
$125.30

0.45 (0.36%)

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.
06/14/19
VERT
06/14/19
UPGRADE
Target $145
VERT
Buy
United Technologies upgraded to Buy from Hold at Vertical Research
Vertical Research Partners analyst Jeffrey Sprague upgraded United Technologies to Buy from Hold while lowering his price target for the shares to $145 from $150.
06/14/19
06/14/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. United Technologies (UTX) upgraded to Buy from Hold at Vertical Research. 2. Bluegreen Vacations (BXG) upgraded to Buy from Hold at Stifel with analyst Simon Yarmak saying that since BBX Capital (BBX) terminated its merger with Bluegreen on May 22, shares of the latter have traded off over 46%. 3. Broadcom (AVGO) upgraded to Buy from Hold at Summit Insights. 4. BJ's Restaurants (BJRI) upgraded to Outperform from Perform at Oppenheimer with analyst Brian Bittner saying he sees an attractive entry point at current share levels. 5. Harmonic (HLIT) upgraded to Outperform from Market Perform at Raymond James with analyst Simon Leopold citing his belief that it benefits from the evolution of cable TV toward virtual Converged Cable Access Platforms and software. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

PUBGY

Publicis

$0.00

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AETI

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PUBGY

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11:50
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SMH

Market Vectors Semiconductor

$114.90

0.53 (0.46%)

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Options
Semiconductor ETF call volume 6x normal on 4-way roll from July to Aug »

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11:50
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General news
Treasury's auctions of $70 B in 4- and 8-week bills were a little sketchy »

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MIRM

Mirum Pharmaceuticals

$0.00

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11:48
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  • 18

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YTRA

Yatra

$4.30

-0.09 (-2.05%)

, EBIX

Ebix

$44.40

-0.431 (-0.96%)

11:47
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11:47
Conference/Events
Yatra and Ebix to hold a joint conference call »

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Yatra

$4.30

-0.09 (-2.05%)

EBIX

Ebix

$44.40

-0.431 (-0.96%)

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  • 19

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AAPL

Apple

$203.94

0.62 (0.30%)

, SWKS

Skyworks

$79.97

-0.18 (-0.22%)

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On The Fly
Downgrades of Exxon, AMD among today's top analyst actions »

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AAPL

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$203.94

0.62 (0.30%)

SWKS

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$79.97

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XOM

Exxon Mobil

$74.58

-0.91 (-1.21%)

AMD

AMD

$32.56

-1.03 (-3.07%)

NFLX

Netflix

$321.21

-41.29 (-11.39%)

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  • 30

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WILC

G. Willi-Food

$10.18

(0.00%)

11:43
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G. Willi-Food announces CFO Amir Kaplan resigns »

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MIRM

Mirum Pharmaceuticals

$0.00

(0.00%)

11:41
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Syndicate
Mirum Pharmaceuticals indicated to open at $15.00, IPO priced at $15.00 »

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  • 18

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11:35
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General news
4-Week Bill Auction Total Amount data reported »

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General news
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KERN

Akerna

$13.25

-0.45 (-3.28%)

11:34
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TSM

TSMC

$42.44

0.82 (1.97%)

11:30
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Options
Vertical call spread buyer in Taiwan Semi opens 6 month position »

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  • 18

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BKNG

Booking Holdings

$1,871.84

4.82 (0.26%)

11:23
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Periodicals
Breaking Periodicals news story on Booking Holdings »

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LQD

iShares iBoxx $ Investment Grade Corporate Bond

$123.46

-0.2 (-0.16%)

11:20
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FULC

Fulcrum Therapeutics

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  • 18

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$NSD

NASDAQ Market Internals

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$NYE

NYSE Market Internals

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11:15
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General news
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General news
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XOP

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11:10
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