Defense contractor Raytheon (RTN) is a Monday gainer, getting some share support from positive coverage in this week’s Barron’s.
An exceptional performer in 2013 with a gain of 57%, Raytheon is up 10% already this year, and can still be a big winner for investors, a feature in the weekly publication argues. An additional rise of 20% is within reach and 30% isn’t unimaginable, as profit accelerates and stock repurchases trim share count, Barron’s says.
At a recent $100, Raytheon trades at just under 13 times 2015 earnings, one of the lowest valuations among the prime defense contractors, Barron’s says.
RTN traded as high as $101.50 Monday, nearing a test of its $102.15 52-week high.