UPDATE: Cowen Upgrades Textron (TXT) to Outperform

August 31, 2021 5:49 AM EDT
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Price: $62.63 -1.09%

Rating Summary:
    16 Buy, 5 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 8
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(Updated - August 31, 2021 5:49 AM EDT)

Cowen analyst Cai Von Rumohr upgraded Textron (NYSE: TXT) from Market Perform to Outperform with a price target of $95.00 (from $75.00).

The analyst comments "We're upgrading TXT to Outperform for bizjet momentum and longer term potential from (1) extended bizjet vigor, (2) FLRRA production potential, and (3) an underappreciated eVTOL play. We think these give TXT's valuation reset potential, and we're hiking our PT to $95, a 14.5x 2022E TEV/EBITDA."

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 $71.94 yesterday.

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