Cowen Expects Textron (TXT) to Beat 4Q EPS by >5%
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Cowen analyst Cai Von Rumohr reiterated an Outperform rating and $95.00 price target on Textron (NYSE: TXT) seeing a greater than 5% EPS beat ahead in the coming earnings report. Additionally, he sees potential for a large share buyback.
The analyst stated "We see Q4 EPS of $1.00 vs. Street's 95¢, driven by seasonal lift at Aviation and Q/Q uptick at Industrial but lower results at Bell (military off) and Systems (Afghan pullout hits fee-forservice ops). FCF should be seasonally strong (112% conversion), suggesting repo near Q3's record $299MM (4.2MM shares). We also expect upbeat bizjet "color" and reit of a FLRAA downselect decision in Q2:22."
Shares of Textron closed at $77.69 yesterday.
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