General Dynamics Corp. (GD) PT Raised to $260 at BofA/Merrill Lynch; 'Undervalued Defense Exposure with Strong Bizjet Demand'
BofA/Merrill Lynch raised its price target on General Dynamics Corp. (NYSE: GD) to $260.00 (from $245.00) while maintaining a Buy rating, following positive news on Bizjet demand.
Analyst Ronald Epstein notes a positive outlook on the shares, as the company released 2018 guidance that demonstrated strong demand from the Bizjet segment, supported by a surge in Gulfstream G650 orders, despite management offering disappointing sales projections for 2018.