Deutsche Bank Downgrades Textron (TXT) to Hold; Taking a Stopover

Deutsche Bank downgraded Textron (NYSE: TXT) from Buy to Hold.

Deutsche analyst says, "Following a sizeable move over the past 4 months and with business jet traffic data losing momentum and order activity still uncertain, we are lowering our rating to Hold. The fundamental earnings recovery story should still be in place, however, we see much of that anticipated early recovery already discounted in shares. At its current valuation, and only 13% upside to our target price, we are lowering our rating."

For more ratings news on Textron click here and for the rating history of Textron click here.

Shares of Textron closed at $26.60 yesterday.

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