Raytheon Technologies Stock Hit with Bull Notes

The company soared to a record high after yesterday's earnings beat

Deputy Editor
Jan 25, 2023 at 11:06 AM
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No fewer than four analysts have raised their price targets on Raytheon Technologies Corp (NYSE:RTX) following yesterday morning's fourth-quarter report. The aerospace giant reported better-than-expected earnings thanks to recovering global air traffic and higher global defense budgets, though revenue missed estimates. 

RTX is down 1.5% to trade at $98.03 despite these bull notes, after yesterday soaring to a record high of $108.84 before settling with a more modest gain. Year-over-year, the equity is up 8.4%. 

The majority of analysts are already bullish on Raytheon Technologies stock, with eight of the 12 in coverage carrying a "buy" or better rating. After these price-target hikes, the 12-month consensus price target of $107.35 is a 9.5% premium to current levels. 

Calls have been more popular than usual of late. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), RTX's 10-day call/put volume ratio of 4.19 ranks higher than 86% of readings from the past year. 


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