Textron (TXT) PT Raised to $70 at Jefferies on Comp Asset Valuation
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Jefferies analyst Sheila Kahyaoglu raised the price target on Textron (NYSE: TXT) to $70.00 (from $65.00) after considering the implications of the sale of Club Car by IR for 11.0X FY21E EBITDA.
The analyst maintained a Buy rating, stating "TXT's EZ-GO is Club Car's primary competitor in the market. Overall, the Specialized Vehicles sub-segment represents 11% of total co revs and 4% of EBIT. On FY21, our SOTP implies that TXT could be worth $72, or ~23% upside to shares at current prices with the Specialized Vehicles portion of Industrial valued at $3."
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