In a report issued on July 1, Howard Rubel from Jefferies reiterated a Buy rating on Raytheon Company (NYSE:RTN). The company’s shares closed last Friday at $134.82, close to its 52-week high of $136.60.
Raytheon and Thales have recently reached a contract that marks the conclusion of efforts to transition shareholder positions held in the ThalesRaytheonSystems joint venture structure. The ThalesRaytheonSystems joint venture has been reconstructed to focus mainly on the delivery of the Air Command and Control System, Theatre Missile Defense, and Ballistic Missile Defense (ACCS) to NATO agencies and NATO member nations.
According to TipRanks.com, Rubel is a top 100 analyst with an average return of 16.2% and a 72.1% success rate. Rubel covers the Industrial Goods sector, focusing on stocks such as United Technologies Corp., General Dynamics Corp., and Lockheed Martin Corp.
Raytheon has an analyst consensus of Moderate Buy, with a price target consensus of $138.43