Citi Reiterates 'Buy' Rating on Textron (TXT)
More News related to TXT
- Bell 429 Achieves Certification
- Textron to Release Second Quarter Results on July 28, 2009
- Textron Names Robert J. Ayotte Vice President, Audit Services
- Textron Marine & Land Systems Delivers 2000th ASV
- Sensor Fuzed Weapon Units from New Assembly Line Successfully Tested
Citi reiterates a 'Buy' rating on Textron Inc (NYSE: TXT). Price target $59.
Citi analyst says, "With a $23.5 billion backlog and $11 billion market cap, TXT is significantly undervalued. EPS visibility extends beyond 2010. Cessna and Bell are valuable iconic franchises in aerospace...Sum-Of-The-Parts (SOTP) Upside —Taking another approach, peer comps suggest TXT SOTP value up to $69, implying 38% potential upside. This approach values Cessna in the range of $35-49/share on 2009 estimates again implying at current prices investors can buy Cessna and effectively get the other 4 businesses for free...Cheap valuation should create internal or external catalyst for upside. Asset sales and large share repurchases should be immediate priority."
Textron Inc. is a multi-industry company that operates in 34 countries. The Company operates its business through four operating segments. Three of the Company’s operating segments represent its manufacturing businesses: Bell, Cessna and Industrial.
Related Categories
Analyst CommentsStocks Mentioned
+18.75Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
