Vertical Research Partners analyst Robert Stallard lowered the price target on Textron (NYSE: TXT) to $26.00 (from $30.00) while maintaining a Hold rating.

The analyst commented, "Texton’s short cycle, discretionary products have been hit hard by COVID-19, and there could be more downside to come from the global economic recession. While its defense businesses are likely to prove resilient, the uncertainty around the outlook for Aviation and Industrial leave us wary of getting involved at this stage. Chances are that 2Q turns out to be even worse than 1Q, and so we reiterate our Hold rating with a revised $26 price target."