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Jefferies Believes Textron (TXT) Won’t Stop Here

Jefferies analyst Sheila Kahyaoglu maintained a Buy rating on Textron (TXTResearch Report) on January 18 and set a price target of $90.00. The company’s shares closed last Thursday at $75.44, close to its 52-week high of $79.45.

According to TipRanks.com, Kahyaoglu is a 4-star analyst with an average return of 7.5% and a 61.4% success rate. Kahyaoglu covers the Technology sector, focusing on stocks such as Aerojet Rocketdyne Holdings, L3Harris Technologies, and Raytheon Technologies.

Currently, the analyst consensus on Textron is a Strong Buy with an average price target of $89.20, which is a 18.9% upside from current levels. In a report issued on January 5, Cowen & Co. also reiterated a Buy rating on the stock with a $95.00 price target.

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Based on Textron’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $2.99 billion and net profit of $185 million. In comparison, last year the company earned revenue of $2.74 billion and had a net profit of $115 million.

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Textron, Inc. is a multi-industry company, which leverages global network of aircraft, defense, industrial, and finance businesses to provide customers innovative solutions and services. The company operates its business through the following segments: Textron Aviation, Bell, Textron Systems, Industrial, and Finance. The Textron Aviation segment manufactures sells, and services Beechcraft and Cessna aircraft. The Bell segment supplies military and commercial helicopters, tiltrotor aircraft, and related spare parts. The Textron Systems segment product lines consist of unmanned aircraft systems; land and marine systems; weapons and sensors; and a variety of defense and aviation mission support products and services. The Industrial segment designs and manufactures a variety of products under the Golf; Turf Care and Light Transportation Vehicles; Fuel Systems and Functional Components and Powered Tools; and Testing and Measurement Equipment product lines. The Finance segment consists of Textron Financial Corp. and its consolidated subsidiaries, which provides finances primarily to purchasers of new Cessna aircraft and Bell helicopters. The company founded by Royal Little in 1923 and is headquartered in Providence, RI.

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