UBS Maintains a 'Buy' on Textron (TXT); Updating Forecasts Post Q3

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.

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