RBC Capital Raises Price Target on General Dynamics (GD) to $165 Following 2Q EPS Beat
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Rating Summary:
18 Buy, 11 Hold, 0 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 20 | Down: 14 | New: 22
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RBC Capital reiterated an Outperform rating on General Dynamics Corp. (NYSE: GD), and raised the price target to $165.00 (from $161.00), GD posted 2Q EPS of $2.27, ahead of consensus at $2.06. GD reported revenues of $7.9bn in the quarter, up 5.5% YoY.
Analyst Robert Stallard commented, "GD posted 2Q15 EPS of $2.27, comfortably in excess of consensus at $2.06. Revenues of $7.9bn in the quarter were up 5.5% YoY, and topped our forecast in three of the four divisions. The revenue performance was also matched at the operating profit level, with overall margins of 13.7% being 90bps higher than our forecast. The stand out performer here was IS&T, coming in at an impressive 10.7%, with Combat's 16.1% margins also more than a percentage point higher than we had expected."
For an analyst ratings summary and ratings history on General Dynamics Corp. click here. For more ratings news on General Dynamics Corp. click here.
Shares of General Dynamics Corp. closed at $149.96 yesterday.
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