Raytheon Gets $2B+ Contract Modification; Optimistic View on Synopsys, Costco, KLA and DraftKings
- June 05th, 2023
- 269 views
Raytheon Technologies Corporation (NYSE: RTX), doing business as Pratt and Whitney Military Engines, has been awarded a significant contract modification worth $2,023,073,136.
The modification, designated as P00015, is an extension of a previously awarded contract (N0001920C0011) and involves the procurement of materials, parts, and components for Lot 17 of the F135 Propulsion system. This system is specifically designed for the advanced F-35 Lightning II Joint Strike Fighter aircraft. In addition to fulfilling the requirements of the Air Force, Marine Corps, Navy, and Non-U.S. Department of Defense participants, the contract also covers cooperative program partners and Foreign Military Sales customers. The contract is being overseen by the Naval Air Systems Command, based in Patuxent River, Maryland.
$RTX closed at $95.75, with a slight decrease of $0.33 (-0.34%) on Monday.
Synopsys, Inc. (Nasdaq: SNPS) received a price target increase from Wells Fargo, with the target raised from $420 to $505.
$SNPS closed at $450.16 on Monday, suggesting a potential upside of $54.84 (+12.18%) based on Wells Fargo's analysis.
Costco Wholesale Corporation (Nasdaq: COST) saw its price target raised by Oppenheimer from $550 to $575.
Despite closing at $518.25 on Monday, this revised price target suggests a potential upside of $56.75 (+10.94%) for $COST, according to Oppenheimer's view.
KLA Corporation (Nasdaq: KLAC) had its price target raised from $455 to $500 by Wells Fargo.
With a Monday closing price of $458.05, the updated price target implies a potential upside of $41.95 (+9.17%) for $KLAC, based on Wells Fargo's assessment.
DraftKings Inc. (Nasdaq: DKNG) received a price target increase from Jefferies, with the target raised from $33 to $35.
Despite $DKNG closing at $25.30 on Monday, this revised price target suggests a potential upside of $9.70 (+38.25%) based on Jefferies' analysis.
These potential upsides are based on the brokerage firms' or analysts' views and reflect their optimism regarding the future performance of these stocks. Investors should carefully consider various factors
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