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Raytheon raised to Buy at Deutsche Bank on coming missile defense spending

|About: Raytheon Company (RTN)|By:, SA News Editor

Raytheon (RTN +1.3%) rises to 52-week highs as Deutsche Bank upgrades shares to Buy from Hold with a $210 price target, raised from $180, as the stock most exposed to missile defense trends.

U.S. spending on missile defense has dropped nearly 25% in real dollar terms over the past decade, but Deutsche Bank sees politics and growing missile threats to U.S. territory setting the table for another leg up in missile defense spending which could claw back all the previous declines in relatively short order.

The firm also raises its stock price targets on Northrop Grumman (NOC +1%) to $325 from $285 and on Lockheed Martin (LMT +0.3%) to $340 from $305.

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