JPMorgan analyst Seth Seifman downgraded Aerojet Rocketdyne (AJRD) to Neutral from Overweight with a price target of $58, up from $54, following the announcement of the company’s planned acquisition by L3Harris Technologies (LHX). The analyst expects regulators to permit L3Harris to acquire Aerojet.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on AJRD:
- Street Wrap: Today’s Top 15 Upgrades, Downgrades, Initiations
- L3Harris downgraded to Neutral at Baird after Aerojet Rocketdyne deal
- Aerojet Rocketdyne downgraded to Hold from Buy at Jefferies
- L3Harris (NYSE:LHX) Gets a Boost with $4.7B Acquisition of Aerojet Rocketdyne
- L3Harris to acquire Aerojet Rocketdyne for $58 per share
