Deutsche Bank analyst Scott Deuschle upgraded RTX (RTX) to Buy from Hold with a price target from $140, up from $131. RTX trades like a defense stock and is valued like a defense stock but underperforms EBIT like an aerospace stock, the analyst told investors in a research note. The company says this makes RTX an attractive way to play the global defense ring. The company's “superior” long-term growth and operating leverage inherent in its aerospace businesses as well as its “strong” international revenue mix in defense help it drive a better consolidated earnings story than protection names, which should prevent multiple derating allow it to do so. drive better returns over time, argues Deutsche Bank.
Published first TheFly – the ultimate source for real-time market-breaking financial news. Try Now >>
Read more on RTX: