UPDATE: Cowen Upgrades Textron (TXT) to Outperform
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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."
Shares of Textron closed at $71.94 yesterday.
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