JPMorgan Downgrades Textron (TXT) to Neutral
- Nasdaq ends down as investors eye Black Friday sales, China infections
- Apple (AAPL) could see a $6B hole in FQ1 iPhone revenue due to Foxconn troubles - analyst
- Activision Blizzard (ATVI) slips on report FTC likely to oppose $69B Microsoft (MSFT) deal
- Manchester United (MANU) shares jump again on Saudi interest
- Bitcoin (BTC) price struggles to rebound as Binance launches $1 billion recovery fund
Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
JPMorgan analyst Seth Seifman downgraded Textron (NYSE: TXT) from Overweight to Neutral with a price target of $30.00 (from $32.00).
The analyst comments "COVID-19 should challenge Textron for at least the next several months and independent of that, the company has struggled at times with execution and end market difficulties. Nevertheless, valuation remains appealing, creating potential for reward as well as risk. The Army might select Textron's Bell unit to build the replacement for its Black Hawk helicopters – perhaps late next year – and this would add meaningful value. A significant earnings stream from this program would take years to ramp, however, and in the meantime, investors must face the end market challenges besetting the Aviation and Industrial units."
Shares of Textron closed at $26.36 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Deutsche Bank senses a 'growing anxiety' over Deere & Co's (DE) Q4 print
- SM Prime Holdings, Inc (SMPH:PM) (SPHXF) PT Lowered to PHP41 at JPMorgan
- Malayan Banking Bhd (MAY:MK) PT Lowered to MYR10.07 at Credit Suisse
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Downgrades
Related EntitiesJPMorgan, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!