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Sept. 21, 2020, 2:44 a.m. EDT

Boeing, Raytheon added to Goldman's conviction buy list

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By Steve Goldstein

Goldman Sachs added Boeing /zigman2/quotes/208579720/composite BA -3.48% and Raytheon Technologies /zigman2/quotes/203237915/composite RTX -7.04% to its conviction buy list, while remove L3Harris Technologies /zigman2/quotes/201997607/composite LHX -2.10% and Lockheed Martin /zigman2/quotes/200691238/composite LMT -1.66% . Goldman said of Boeing that it's a rare cyclical investment opportunity ahead of eventual end-market improvements, adding the pace of aircraft order cancellations out of the Boeing backlog has slowed significantly, and been surprisingly limited for widebody aircraft. On Raytheon, "it is too high quality and well positioned of a company to trade at an 11% FCF yield on the fully aerospace-recovered and fully synergized 2023E free cash." Goldman kept Lockheed and L3Harris at buy but said there were better opportunities in the aerospace stocks.

/zigman2/quotes/208579720/composite
US : U.S.: NYSE
$ 155.24
-5.59 -3.48%
Volume: 15.49M
Oct. 27, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$90.78 billion
Rev. per Employee
$660,961
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/zigman2/quotes/203237915/composite
US : U.S.: NYSE
$ 56.53
-4.28 -7.04%
Volume: 14.79M
Oct. 27, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
3.36%
Market Cap
$92.90 billion
Rev. per Employee
$277,021
loading...
/zigman2/quotes/201997607/composite
US : U.S.: NYSE
$ 166.26
-3.57 -2.10%
Volume: 1.26M
Oct. 27, 2020 4:00p
P/E Ratio
27.89
Dividend Yield
2.04%
Market Cap
$36.72 billion
Rev. per Employee
$368,114
loading...
/zigman2/quotes/200691238/composite
US : U.S.: NYSE
$ 362.43
-6.12 -1.66%
Volume: 977,417
Oct. 27, 2020 4:03p
P/E Ratio
15.62
Dividend Yield
2.87%
Market Cap
$103.11 billion
Rev. per Employee
$512,019
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