Jefferies Reiterates Buy on Textron (TXT) After Meeting with Management

Jefferies reiterated a Buy rating and $52.00 price target on Textron (NYSE: TXT) after meeting with management. Analyst Sheila Kahyaoglu came away from the meetings more positive on the company's new product offering at TXT Aviation.

Kahyaoglu commented, "We met with TXT CEO, Scott Donnelly, and CFO, Frank Connor. We were incrementally more positive on the company's new product offering at TXT Aviation. The Longitude launch at NBAA will further refresh the portfolio, targeting a new addressable market for Cessna. At Bell, new products and incremental military wins allow for an uplift in revenues over the medium term. Our 2015 and 2016 EPS estimates are unchanged at $2.45 and $2.85 respectively."

For an analyst ratings summary and ratings history on Textron click here. For more ratings news on Textron click here.

Shares of Textron closed at $40.26 yesterday.

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