Cowen and Company Increases Textron Price Target to $36.00 (TXT)
Equities research analysts at Cowen and Company lifted their target price on shares of Textron (NYSE:TXT) from $34.00 to $36.00 in a research note issued to investors on Monday, Analyst RN reports. The firm currently has an “outperform” rating on the stock. Cowen and Company’s price objective suggests a potential upside of 27.75% from the company’s current price.
Textron (NYSE:TXT) traded down 0.25% on Monday, hitting $28.18. The stock had a trading volume of 2,959,222 shares. Textron has a 1-year low of $22.84 and a 1-year high of $31.30. The stock’s 50-day moving average is $27.91 and its 200-day moving average is $27.42. The company has a market cap of $7.971 billion and a P/E ratio of 16.93.
Textron (NYSE:TXT) last issued its quarterly earnings data on Friday, October 18th. The company reported $0.35 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.47 by $0.12. The company had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter last year, the company posted $0.48 earnings per share. Textron’s revenue was down 3.2% compared to the same quarter last year.
Other equities research analysts have also recently issued reports about the stock. Analysts at JPMorgan Chase & Co. cut their price target on shares of Textron from $36.00 to $35.00 in a research note to investors on Tuesday, October 15th. They now have an “overweight” rating on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Textron in a research note to investors on Wednesday, July 31st. They now have a $29.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $36.70.
Textron Inc is a multi-industry company engaged in aircraft, defense, industrial and finance businesses to provide customers with products and services worldwide.
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