RBC Capital raised the firm’s price target on RTX (RTX) to $130 from $115 but keeps a Sector Perform rating on the shares after its Q3 earnings beat. The company’s organic revenue growth was 8% in the quarter, led by 11% commercial aftermarket growth and 10% growth in defense, the analyst tells investors in a research note. RTX also called out $36B in new awards and slightly increased its 2024 sales and earnings guidance, the firm added, noting that while the GTF engine risk continues to moderate, the expected re-set on 2025 free cash flow is now likely with the Q4 results.
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