BofA Securities Upgrades RTX Corp. (RTX) to Neutral, 'Taming the metal powdered beast'
BofA Securities analyst Ronald Epstein upgraded RTX Corp. (NYSE: RTX) from Underperform to Neutral with a price target of $100.00 (from $78.00).
The analyst comments "We upgrade RTX to Neutral mainly to reflect better than expected execution in servicing contaminated powder-metal discs in Geared Turbo Fan (GTF) aircraft engines. Pratt & Whitney (P&W) is not only delivering new full-life disks ahead of expectations. It is also fixing affected engines faster to prevent a peak of 650 aircraft on the ground (AOG). Additionally, Collins Aerospace continues to benefit from increased aftermarket demand and a recovery in widebody flight volume. While Raytheon defense will likely continue to be pressured, recent restructuring and management changes give us more confidence in a turnaround of that business in 2025. Thus, we raise our PO to $100 from $78."
For an analyst ratings summary and ratings history on RTX Corp. click here. For more ratings news on RTX Corp. click here.
Shares of RTX Corp. closed at $89.49 yesterday.