UBS Maintains a 'Buy' on Textron (TXT); Updating Forecasts Post Q3
Get Alerts TXT Hot Sheet
Price: $83.54 -11.14%
Rating Summary:
15 Buy, 6 Hold, 1 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 10 | Down: 12 | New: 7
Rating Summary:
15 Buy, 6 Hold, 1 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 10 | Down: 12 | New: 7
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UBS maintains a 'Buy' on Textron (NYSE: TXT) price target cut from $35 to $30.
UBS analyst says, "We have reduced our 2012 EPS estimate by $0.15 to $1.60 to incorporate a lower forecast for Systems, which we now think will decline further next year. Overall, we foresee 2012 EPS growth driven mainly by slightly higher volumes at Cessna along with a smaller TFC loss partially offset by higher pension and corporate expense."
"We forecast 150 non-Mustang deliveries in 2012, up modestly from 125-130 in 2011, and equivalent with the annualized Q3 delivery rate...See Cessna generating 30-35% pre R&D incrementals."
For more ratings news on Textron click here and for the rating history of Textron click here.
Shares of Textron closed at $18.59 yesterday.
UBS analyst says, "We have reduced our 2012 EPS estimate by $0.15 to $1.60 to incorporate a lower forecast for Systems, which we now think will decline further next year. Overall, we foresee 2012 EPS growth driven mainly by slightly higher volumes at Cessna along with a smaller TFC loss partially offset by higher pension and corporate expense."
"We forecast 150 non-Mustang deliveries in 2012, up modestly from 125-130 in 2011, and equivalent with the annualized Q3 delivery rate...See Cessna generating 30-35% pre R&D incrementals."
For more ratings news on Textron click here and for the rating history of Textron click here.
Shares of Textron closed at $18.59 yesterday.
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