CNBC News:
Baird just raised its share forecast for Raytheon by 25 percent on growing optimism over its future missile defense sales in light of rising tensions with North Korea.
“We are raising the price target of Raytheon … reflecting the significant programs wins both domestically and internationally for missile defense and missile systems that puts Raytheon in position for favorable organic growth in 2018 and beyond,” Baird analyst Peter Arment wrote in a note to clients Thursday.
Arment reiterated his outperform rating and increased his price target for Raytheon shares to $212 from $170, representing 18 percent upside from Wednesday’s close.
