Raytheon Boosted Above Consensus and 3 Stock Analyses Buzzing Now
Raytheon Co. (NYSE:RTN): After the firm met with management, Citigroup decided to increase its 2013 and 2014 earnings estimates for Raytheon to 10 percent above consensus. Citi thinks that Raytheon has been seeing robust international demand, and the firm decided to keep its Buy rating and raise its price target to $69 from $68 on the stock.
The Allstate Corporation (NYSE:ALL) expectation of $510 million in gross auto losses from Hurricane Sandy is viewed by Deutsche Bank as possibly being too high. The firm believes that there is potential for downward revision to the estimate, and the firm maintains its Buy rating on the stock.
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Jazz Pharmaceuticals, Inc. (NASDAQ:JAZZ): Jazz has announced the initiation of its new clinical trial for Erwinaze, which it will evaluate intravenous administration in patients with ALL as an alternative to intramuscular injection. Brean Murray stands by its estimates but thinks that it is possible that there will be upside to its 2014 forecast. Shares have a Buy rating and an $81 price target.
Medicines Co. (NASDAQ:MDCO): Leerink thinks that the recent pullback in shares of The Medicines Co. creates an opportunity to buy prior to the company’s Phase III data in Q1 for Cangrelor and Oritavancin. Leerink has decided to keep its Outperform rating on the stock after visiting company headquarters.
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