Credit Suisse Reiterates “Outperform” Rating for Textron (TXT)
Textron (NYSE:TXT)‘s stock had its “outperform” rating reaffirmed by Credit Suisse in a research note issued on Thursday. They currently have a $43.00 target price on the stock, up from their previous target price of $42.00. Credit Suisse’s price objective indicates a potential upside of 12.21% from the company’s current price.
Textron (NYSE:TXT) traded down 1.74% on Thursday, hitting $38.32. The stock had a trading volume of 2,402,148 shares. Textron has a 52 week low of $26.17 and a 52 week high of $41.15. The stock’s 50-day moving average is $38.90 and its 200-day moving average is $38.2. The company has a market cap of $10.697 billion and a P/E ratio of 23.79.
Textron (NYSE:TXT) last issued its quarterly earnings data on Wednesday, July 16th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.05. The company had revenue of $3.51 billion for the quarter, compared to the consensus estimate of $3.52 billion. During the same quarter in the previous year, the company posted $0.40 earnings per share. The company’s revenue for the quarter was up 23.5% on a year-over-year basis. On average, analysts predict that Textron will post $2.07 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on TXT. Analysts at Morgan Stanley reiterated an “equal weight” rating on shares of Textron in a research note on Thursday. Separately, analysts at RBC Capital raised their price target on shares of Textron from $42.00 to $44.00 in a research note on Thursday. They now have an “outperform” rating on the stock. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Textron from $45.00 to $49.00 in a research note on Thursday. They now have an “overweight” rating on the stock. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Textron has a consensus rating of “Hold” and an average price target of $42.42.
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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