Jefferies Provides Bullish Take on Textron (TXT)

Jefferies analyst Sheila Kahyaoglu reiterated a Buy rating and $52 price target on Textron (NYSE: TXT), saying the stock trades at a discount.

Kahyaoglu commented, "We continue to find Textron an attractive investment opportunity. Despite double the earnings growth through 2016 the stock trades at a 5% discount on 2016 earnings to A&D coverage. In this report, we address the upcoming opportunities at TXT Aviation including i) Latitude introduction; ii) Longitude market opportunity; and iii) a glimpse of what could be next. New products drive operating earnings to double by 2016 with another 25% jump in 2017."

The firm trimmed Q1 EPS from $0.47 to $0.46 but maintained FY 2015 EPS at $2.45 and FY 2016 EPS at $2.85.

For an analyst ratings summary and ratings history on Textron click here. For more ratings news on Textron click here.

Shares of Textron closed at $44.19 yesterday.

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