General Dynamics price target lowered to $314 from $320 at Deutsche Bank

Deutsche Bank lowered the firm’s price target on General Dynamics to $314 from $320 and keeps a Hold rating on the shares as part of a Q3 earnings preview for the aerospace and defense group. The firm remains bullish on the aerospace engine value chain. Its preferences into this quarter are GE Aerospace (GE), Howmet Aerospace (HWM), Carpenter Technology (CRS) and BWX Technologies (BWXT). These stocks are “well-insulated” against end market challenges and can continue to post the largest earnings beats and drive the highest revisions, the analyst tells investors in a research note. For U.S. defense, Deutsche says the whole sector has become “increasingly expensive relative to a growth outlook that currently looks likely to peak in 2025.”