General Dynamics Corp. (GD) PT Lowered to $303 at Deutsche Bank

Deutsche Bank analyst Scott Deuschle lowered the price target on General Dynamics Corp. (NYSE: GD) to $303.00 (from $306.00) while maintaining a Hold rating.

The analyst comments "According to Cirium, Gulfstream appears to have delivered 5 aircraft in November: 2 G280s, 1 G500, and 2 G600s. This is a 67% y/y decline, and brings QTD deliveries to 12 aircraft vs. 4Q Bloomberg consensus for 53 deliveries and an implied 4Q guide of 61 deliveries. The QTD total is down 8 units vs. the 20 deliveries GD delivered over the same months in 2023. Strangely, seasonality is running contradictory to 2023, with November deliveries down 2 units m/m in 2024 vs. up 10 units m/m in 2023."

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