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Benzinga

Akanksha Bakshi

RBC Capital Initiates Raytheon Technologies At Outperform

RBC Capital RTX Ken Herbert Aero United States

Raytheon Technologies Corp (NYSE:RTX) coverage was initiated with an Outperform and a price target of $125 (an upside of 24.5%) by RBC Capital analyst Ken Herbert.
The analyst believes that at 65% Defense and 35% Aero, RTX is setting a new standard for end-market exposure that will benefit from stronger defense fundamentals and the commercial aerospace recovery.
Herbert estimates the higher-margin commercial aftermarket sales to grow from $14 billion in 2021 to $26 billion in 2025.
Also Read: European Demand For US Drones, Missiles Increases After Russian Invasion: Reuters
Price Action: RTX shares are trading lower by 0.52% at $100.45 on the last check Friday.

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