Raytheon (RTN): Bull Of The Day

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Raytheon (RTN): Bull Of The Day

By Zacks Investment Research on July 28, 2009 | More Posts By Zacks Investment Research | Author's Website

Raytheon Company (RTN) offers investors strong order bookings and order backlog, an improving balance sheet, growing cash flow, operational improvements and an above-industry average ROE.

Going forward, growth will be driven by focus on ISR unmanned systems, training, cyber security, Standard Missile-3, Patriot, Zumwalt and THAAD. Accordingly, we note a bias towards outperformance and maintain our BUY recommendation on RTN common stock with a six-month target price of $49.25.

Price appreciation to our near-term valuation target, coupled with the recently increased $0.31 per share quarterly cash dividend - which we deem to be sustainable and secure - represents annualized total return potential of 20.7%.

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