Goldman Sachs Upgrades Raytheon (RTN) to Neutral

May 30, 2013 7:26 AM EDT
Get Alerts RTN Hot Sheet
Price: $145.99 --0%

Rating Summary:
    18 Buy, 8 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Goldman Sachs upgraded Raytheon (NYSE: RTN) from Sell to Neutral with a price target of $70.00 in the context of their Defense sector upgrade to Attractive.

"We believe we underestimated the multiple the market would pay for RTN's cash generation and dividend yield, as well as the resiliency of the company’s operating margins in recent quarters," the analyst commented.

For an analyst ratings summary and ratings history on Raytheon click here. For more ratings news on Raytheon click here.

Shares of Raytheon closed at $67.10 yesterday.

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