Barclays downgraded RTX to Equal Weight from Overweight with a price target of $75, down from $100. The analyst says uncertainty related to the duration and cost of the GTF powder metal fix along with long-term market share and profitability implications are likely to “overhang the stock for some time.” The firm thinks the low end of RTX’s recent valuation range is appropriate as it still sees risk to the company’s revised forecast.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on RTX:
- RTX Corporation (NYSE:RTX) Slips on Downgrades, Engine Bill
- RTX falls -6.7%
- RTX falls -4.8%
- Tesla upgraded, Rent The Runway downgraded: Wall Street’s top analyst calls
- RTX Corp. (NYSE:RTX) Drops on $3B Q3 Profit Hit from Engine Issue
Questions or Comments about the article? Write to editor@tipranks.com