Jefferies Upgrades Raytheon (RTN) to Buy

Jefferies upgraded Raytheon (NYSE: RTN) from Hold to Buy and raised their price target from $52 to $54.

The firm states, "Advances in electronic sensors, software, and signal detection have the potential to reshape the buying habits of the DoD. As a leading supplier of radar systems, electronic warfare solutions and information networks, Raytheon is in a position to deliver systems that will enable the DoD to leverage advances in technology to buy more capability for less."

EPS estimates for 2011, 2012, and 2013 remain unchanged at $4.85, $5.65
and $6.35, respectively.

For more ratings news on Raytheon click here and for the rating history of Raytheon click here.

Shares of Raytheon closed at $45.75 yesterday.

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