Raytheon awarded $158.57M government contract Raytheon is being awarded a $158.57M firm-fixed-price contract for the procurement of 48 MH-60R Full Rate Production Airborne Low Frequency Sonar systems, including associated program management support. Work is expected to be completed in April 2017. Contract funds in the amount of $158.57M are being obligated at time of award, $39.64M of which 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.