RTX price target raised to $151 from $140 at Wells Fargo

Wells Fargo raised the firm’s price target on RTX (RTX) to $151 from $140 and keeps an Overweight rating on the shares. The firm’s commercial aero view remains cautious on the pace of aero OE build ramp, similar to its December outlook. Wells’ company calls late in Q4 back up this view, the firm adds. For defense, funding concerns and DOGE risk likely remain an overhang, and Q4 is unlikely to offer much clarity. With that said, favorite ideas into Q4 include RTX, where Wells sees 2025 guide as an opportunity to reset the final year of its long-term outlook. The firm sees a clear path to about $7 EPS in 2026, which given better free cash flow conversion post GTF recall should get close to a group multiple, implying $150 share price.