Raytheon unit awarded $108.78M government contract modification Raytheon Missile Systems is being awarded a $108.78M modification to previously awarded contract FY11 Standard Missile-2 production, section level components and spares, shipping containers and associated data. Work is expected to be completed by March 2014. Contract funds in the amount of $8.53M will expire at the end of the current fiscal year.
Raytheon downgraded to Equal Weight from Overweight at Barclays Barclays analyst Carter Copeland downgraded Raytheon to Equal Weight saying his thesis has largely played out with the stock near his $125 price target. The analyst downgraded the shares on valuation.
General Dynamics upgraded to Overweight from Equal Weight at Barclays Barclays analyst Carter Copeland upgraded General Dynamics (GD) to Overweight saying Gulfstream-related fears are overly discounted in the stock at current levels. Shares offer the best risk/reward in U.S. Aerospace & Defense, Copeland tells investors in a research note. He keeps a $157 price target for the stock. The analyst this morning also downgraded Lockheed Martin (LMT) to Underweight and Raytheon (RTN) to Equal Weight.