A growing defense stock...
Raytheon is a growing defense and aerospace stock. The stock price declined a bit in June which could offer better value to investors who want to add it to their portfolio. Defense contractors have performed well over the past year, reflecting the election of Donald Trump and the expectation that he (and Republicans generally) will be good for defense spending.
However, the multiple has grown quite high, above its historic average. Still, stock experts still recently rated it as a top pick and a buy.
A top pick on Stockchase
Stock expert Cameron Hurst recently chose it as a top pick saying “It has great international exposure with missile and cyber defense as their top products. The valuation is at historical highs, but is not out of the ballpark. Yield 1.6%.” He noted analyst’s price target is $237.85.
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