Textron price target lowered to $79 from $87 at UBS

UBS lowered the firm’s price target on Textron (TXT) to $79 from $87 and keeps a Sell rating on the shares. Textron missed in Q3 and cut its EPS and free cash flow guidance due to the strike impact on both Q3 and Q4, but sees a recovery in 2025 with Aviation revenue above the original 2024 guidance as deliveries resume ramping, the analyst tells investors in a research note. UBS views business jet as the most impactful driver of the stock, and continues to see cycle risk there longer term, and as revenue moves higher and book to bill and backlog move lower, the firm expects cycle concerns to weigh on the stock.