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Raytheon Secures $887.93M Contract Modification; BofA Securities Bullish on Carnival and Palantir

  • June 12th, 2023
  • 269 views

Pratt and Whitney Military Engines, a Raytheon Technologies (NYSE: RTX) business, has been awarded a significant modification to a contract for the procurement of F-135 propulsion system spare parts and support equipment. 

The firm-fixed-price modification, valued at $887,934,922, expands the contract ceiling and covers various requirements for the Air Force, Marine Corps, Navy, Foreign Military Sales customers, and non-Department of Defense participants. 

The Naval Air Systems Command in Patuxent River, Maryland, is overseeing the contract. 

In after-hours $RTX was trading $99.75, reflecting a slight increase of $0.33 (+0.33%).

Carnival Corporation & plc (NYSE: CCL), a leading cruise company operating a global portfolio of cruise brands, received an upgrade from BofA Securities, shifting its rating from Neutral to Buy, while also raising the price target from $11 to $20.

With $CCL closing at $14.72 on Monday, this revised price target suggests a potential upside of $5.28 or 35.87%, as per BofA Securities' analysis.

Palantir Technologies Inc. (NYSE: PLTR), a data analytics company specializing in software solutions for government and commercial clients, saw its price target lifted from $13 to $18 by BofA Securities.

Considering that $PLTR closed at $15.65 on Monday, the adjusted price target implies a potential upside of $2.35 or 15.00%, based on BofA Securities' evaluation.

These potential upsides are projections based on the views and assessments of BofA Securities, taking into account various factors and market conditions. Investors should exercise caution and conduct their own analysis before making any investment decisions.

 

THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY OR DIGITAL ASSET. Please consult with a professional investment advisor before purchasing or selling any securities viewed on or mentioned herein. (Read Full Disclaimer)

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