Cowen & Co. Believes Raytheon (NYSE: RTN) Still Has Room to Grow

By Ryan Adsit

Cowen & Co. analyst Cai Rumohr reiterated a Buy rating on Raytheon (NYSE: RTN) today and set a price target of $235. The company’s shares closed yesterday at $225.09, close to its 52-week high of $225.86.

According to TipRanks.com, Rumohr is a top 100 analyst with an average return of 17.2% and a 77.1% success rate. Rumohr covers the Consumer Goods sector, focusing on stocks such as American Outdoor Brands Corp, General Dynamics Corp, and L3 Technologies Inc.

Currently, the analyst consensus on Raytheon is Strong Buy and the average price target is $240.43, representing a 6.8% upside.

In a report issued on April 6, RBC Capital also reiterated a Buy rating on the stock with a $262 price target.

Based on Raytheon’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $6.78 billion and quarterly net profit of $393 million. In comparison, last year the company earned revenue of $6 billion and had a net profit of $506 million.

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Raytheon Co. engages in the development and manufacture of defense and security solutions. It operates through the following segments: Integrated Defense Systems; Intelligence, Information, and Services (IIS); Missile Systems; Space and Airborne Systems (SAS); Forcepoint; and Corporate.