Textron (TXT) PT Raised to $70 at Stephens, Says Aviation Backlog Points to Business Jet Recovery
Stephens raised its price target on Textron (NYSE: TXT) to $70.00 (from $66.00) while maintaining a Equal Weight rating.
Analyst Drew Lipke remains sidelined on the name citing balanced risk/reward. The analyst sees a realistic scenario of over 20% increase to his 2019 estimates with a recovery in the business jet market and sees a bull-case scenario where the equity trades upwards of $75.00.