Wolfe Research upgraded Raytheon Technologies to Outperform from Peer Perform with a $117 price target. The shares have been a relative underperformer year-to-date, but a "strong" aerospace backdrop and defense performance are likely set for a rebound, the analyst tells investors in a research note. The firm cites an improved outlook for munitions/missiles long-term and a "clearer path" on Raytheon’s F-35 sole-source engine position for the upgrade.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on RTX:
- Raytheon, SpiderOak collaborate to secure satellite communications
- Raytheon Technologies, Boeing awarded shared $400M Air Force contract
- Raytheon Technologies awarded $1.2B contract from U.S. Army
- Raytheon Technologies awarded $113.63M Navy contract modification
- Raytheon Technologies awarded $212.68M Navy contract modification