Jefferies Boosts Numbers on Raytheon (RTN) After Q1

Jefferies boosted estimates and its price target on Raytheon (NYSE: RTN) from $54 to $62 while maintaining a Buy rating.

The firm comments, "Raytheon delivered a sharply higher-than-expected EPS for Q1:12 of $1.32 vs. our estimate of $1.18. We are raising our 2012 EPS estimate to $5.15 from $5.10 and boosting our price target to $62 as we believe the shares can begin to trade on a 10.5x to 11.0x multiple of our 2013 EPS of $5.80."

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 $53.93 yesterday.

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