Credit Suisse Remains a Hold on Raytheon

By Austin Angelo

Credit Suisse analyst Robert Spingarn maintained a Hold rating on Raytheon (NYSE: RTN) yesterday and set a price target of $219. The company’s shares opened today at $197.52.

According to TipRanks.com, Spingarn is a 5-star analyst with an average return of 14.9% and a 71.2% success rate. Spingarn covers the Consumer Goods sector, focusing on stocks such as General Dynamics Corp, Transdigm Group Inc, and L3 Technologies Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Raytheon with a $227 average price target.

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Based on Raytheon’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $6.27 billion and net profit of $633 million. In comparison, last year the company earned revenue of $6.28 billion and had a net profit of $553 million.

Based on the recent corporate insider activity of 107 insiders, corporate insider sentiment is neutral on the stock.

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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.