Jefferies Reiterates Buy Rating on Raytheon Technologies Corp. (RTX) on Hypersonic Missile Win

Jefferies analyst Sheila Kahyaoglu reiterated a Buy rating and $110.00 price target on Raytheon Technologies Corp. (NYSE: RTX) following Hypersonic missile win.

The analyst commented, "RTX Missiles and Defense was awarded a $986MM task order for the Hypersonic Attack Cruise Missile (HACM), beating both BA and LMT. HACM is one of the Air Force's two major hypersonic missile programs along with the LMT-manufactured Air-Launched Rapid Response Weapon (ARRW). HACM is designed to be carried by both fighters and bombers. The program's revenue contribution is minimal, but it could contribute $100MM of growth to 2023 (10bps)."

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

Shares of Raytheon Technologies Corp. closed at $83.45 yesterday.

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