TD Cowen analyst Gautam Khanna reiterated a Buy rating and $142.00 price target on RTX Corp. (NYSE: RTX).

The analyst commented, "Blowout Q3 defense orders (2.6x book/bill; 1.48x LTM) boosted foreign work to 44% of RTN's backlog vs ~24% of sales, an eventual mix plus that augments underlying productivity gains. GTF fleet plan tail risk is reduced by in-line data points and customer comp agreements for 75% of the fleet. The stock should continue to grind higher."

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Shares of RTX Corp. closed at $125.53 yesterday.