BofA Securities Downgrades Raytheon Technologies Corp. (RTX) to Neutral, 'Hitting turbulence'
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Go back to BofA Securities Downgrades Raytheon Technologies Corp. (RTX) to Neutral, 'Hitting turbulence'
July 26, 2023 9:37 AM EDT
Morgan Stanley downgraded Raytheon Technologies (NYSE: RTX) to an equal-weight rating (From Overweight) and cut their 12-month price target on the stock to $95.00 (from: $110.00) after the aerospace and defense company reported an unexpected manufacturing defect during their 2Q earnings report.
RTX saw a drop of 10.2% in their share price on Tuesday, following the disclosure of a manufacturing flaw associated with the Pratt & Whitney high pressure turbine (HPT) discs used in the Airbus A320neo Geared Turbofan (GTF) engine. The defect traces back to contaminated powdered metals produced from 2015 to 2021, impacting the... More
July 26, 2023 8:36 AM EDT
TD Cowen analyst Cai von Rumohr lowered the price target on Raytheon Technologies Corp. (NYSE: RTX) to $109.00 (from $120.00) while maintaining a Outperform rating.... More
July 26, 2023 7:53 AM EDT
JPMorgan analyst Seth Selfman lowered the price target on Raytheon Technologies Corp. (NYSE: RTX) to $100.00 (from $108.00) while maintaining a Overweight rating.... More
July 26, 2023 7:07 AM EDT
Susquehanna analyst Christopher Rolland lowered the price target on Raytheon Technologies Corp. (NYSE: RTX) to $110.00 (from $117.00) while maintaining a Positive rating.... More
July 26, 2023 6:25 AM EDT
RBC Capital analyst Ken Herbert lowered the price target on Raytheon Technologies Corp. (NYSE: RTX) to $105.00 (from $110.00) while maintaining a Outperform rating.... More
July 26, 2023 6:19 AM EDT
Baird lowered its price target on Raytheon Technologies Corp. (NYSE: RTX) to $100.00 (from $115.00) while maintaining a Outperform rating.... More
July 26, 2023 6:14 AM EDT
Langenberg analyst Brian Langenberg upgraded Raytheon Technologies Corp. (NYSE: RTX) from Hold to Buy.
For an analyst ratings summary and ratings history on Raytheon Technologies Corp. click here. For more ratings news on Raytheon Technologies Corp. click here.
Shares of Raytheon Technologies Corp. closed at $87.10 yesterday.
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July 26, 2023 4:45 AM EDT
Wolfe Research analyst Myles Walton lowered the price target on Raytheon Technologies Corp. (NYSE: RTX) to $110.00 (from $117.00) while maintaining a Outperform rating.... More
July 26, 2023 2:04 AM EDT
(Updated - July 26, 2023 4:26 AM EDT)
Morgan Stanley analyst Kristine Liwag downgraded Raytheon Technologies Corp. (NYSE: RTX) from Overweight to Equalweight with a price target of $95.00 (from $110.00).
The analyst comments "After yesterday's earnings report, RTXs stock ended the day down 10.2%, while the S&P 500 was up ~0.3%. The... More
July 25, 2023 10:34 AM EDT
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July 25, 2023 7:23 AM EDT
Despite Raytheon Technologies (NYSE: RTX) reporting better-than-expected Q2 results, shares fell 3.5% in pre-open Tuesday after the company slashed its full-year free cash flow forecast.
Q2 EPS came in at $1.29, $0.11 better than the analyst estimate of $1.18. Revenue for the quarter was $18.3B ahead of the consensus for... More
July 25, 2023 7:00 AM EDT
By Valerie Insinna, Mike Stone and Pratyush Thakur
(Reuters) -Pratt & Whitney on Tuesday hit fresh turbulence over a problem-plagued engine model, prompting a 10% drop in shares of parent RTX as it said more than 1,000 engines must removed from Airbus planes and checked for microscopic cracks.
It was the latest setback to the U.S. engine maker's efforts to conquer the biggest market segment -- narrowbody jets -- and could exacerbate a capacity crunch as some airlines struggle with a plane shortage during the peak summer travel season.
RTX Corp said a "rare condition" in powdered metal meant... More
