5 Textron (TXT) Management Meeting Takeaways - Jefferies
Get Alerts TXT Hot Sheet
Rating Summary:
15 Buy, 6 Hold, 1 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Join SI Premium – FREE
Jefferies analyst Sheila Kahyaoglu reiterated a Buy rating and $90.00 price target on Textron (NYSE: TXT) after meeting with management and the Aviation team in Wichita, KS which yielded 5 key takeaways:
1) Aviation backlog (~40% of 2022 total co sales) is supported by new entrants as 20% of retail buyers are first-time owners w/ strongest used market
2) SkyCourier and Denali next adding an incremental $90MM in our model by 2024 w/ shipments EIS slated for H1:22 and 2023 respectively
3) Refreshes such as the CJ4 Gen 2 support demand, w/ go-fwd investment on mods vs clean sheet given a decade of investment
4) Five price increases in 2021
5) Submitted add-ons to FLRAA RFP w/ decision slated for end-June/July
The analyst stated "Robust Demand for Biz Jets Continues w/ Aviation backlog of $4.1BB that has expanded 156% y-o-y. The market has been supported by an expanding customer base, w/ 20% first-time buyers. Additionally, used aircraft for sale at an all-time low at 2.4% of the total fleet for sale vs. a 1-yr avg of 4.1%. The sanctions on Russia impact a handful of aircraft, turboprops and commercial helo, but likely minimal."
For an analyst ratings summary and ratings history on Textron click here. For more ratings news on Textron click here.
Shares of Textron closed at $71.23 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- AO World Plc. (AO/:LN) PT Raised to GBP1.25 at Jefferies
- TD Cowen Starts Grindr (GRND) at Buy
- Recruit Holdings Co., Ltd (6098:JP) (RCRUY) PT Raised to JPY7,800 at Jefferies, 'emerged stronger since the last earnings season'
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Jefferies & Co, Raising PricesSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!