General Dynamics price target raised to $360 from $354 at Citi

Citi raised the firm’s price target on General Dynamics (GD) to $360 from $354 and keeps a Buy rating on the shares as part of a Q4 earnings preview for the aerospace and defense group. The firm expects to hear positive commentary from commercial aftermarket suppliers in Q4, saying traffic looks poised to grow above trend in 2025, and from commercial original equipment exposed names as production rates head higher. Further, defense contractors will be “somewhat balanced,” with positive commentary on demand from Europe, but some level of caution on the US given the Presidential transition, the analyst tells investors in a research note. Citi also expects to hear positive demand commentary from business jet and space exposed names. The defense stock selloff “looks overdone” as investors have become too cautious on the outlook for defense spending, the firm contends.