Fly News Breaks for September 16, 2019
Sep 16, 2019 | 08:34 EDT
According to multiple media reports, Raytheon (RTN) this week at the DSEI defense conference in London indicated that it expects for U.S. Congress to soon allow it to sell its portable Coyote drone missile system to international customers, William Blair analyst Louie DiPalma told investors in a research note on Friday afternoon. The analyst believes this portends well for AeroVironment's similar quest to receive approval to sell its Switchblade portable missile system to international customers. He now expects AeroVironment to receive this approval by the end of calendar 2021, at the latest. International Switchblade sales could be worth $28 to $36 of equity value to AeroVironment, says DiPalma, who keeps an Overweight rating on the shares.
News For AVAV;RTN From the Last 2 Days
Feb 25, 2020 | 09:04 EST
Raytheon is enhancing the combat-proven Patriot Air and Missile Defense System under a $314M task order for engineering services from the U.S. Army, awarded on January 30. The task order is funded by the 17 nations that rely on Patriot for integrated air and missile defense. This is the third of five annual, indefinite delivery/indefinite quantity task order awards with a total contract ceiling of more than $2.3B.