RBC Capital analyst Ken Herbert lowered the firm’s price target on General Dynamics to $270 from $280 but keeps an Outperform rating on the shares. The company’s Q1 results were "strong" in the defense business but not enough to offset incremental Gulfstream concerns, the analyst tells investors in a research note. RBC adds however that it remains confident in the Gulfstream delivery ramp in the second half of this year and into 2024.
Published first on TheFly
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