Bernstein analyst Douglas Harned raised the firm’s price target on General Dynamics to $258 from $254 and keeps a Market Perform rating on the shares. The firm is turning more positive on the stock as catalysts come together with Marine Systems on a long-term upward trend, Aerospace setting up as more resilient to economic risks, and Combat Systems capturing near-term upside from the Russian invasion of Ukraine, the analyst tells investors in a research note. Investor have concerns that General Dynamics stock can only work when Gulfstream works, but while Gulfstream upside from backlog growth is good, it is not essential, the firm added.
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