Posted July 28, 2015 by FTM Staff Analyst in NEWS

Bank of America Upgrades Raytheon to OW, PT $120

This morning BAML upgraded shares of RTN to OW and a PT of $120. Analyst Ronald Epstein believes that defense stocks like RTN are more attractive in an environment where emerging markets are in a recession, while developed markets are driving global GDP growth.

He continues to say that since the US government is the largest customer, costs and are denominated in USD thus making defense companies insulated from USD exchange rates and commodity prices. Furthermore, he also believes that lower oil prices may pressure the buying power of Middle Eastern customers.




FTM Staff Analyst



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