Bernstein lowered the firm’s price target on General Dynamics (GD) to $331 from $343 and keeps a Market Perform rating on the shares. The firm notes General Dynamics reported Q3 2024 earnings, with results coming in below consensus expectations. Key issues in Q3 were lower-than-expected G700 deliveries and a softer margin outlook in Marine. Lower G700 deliveries are likely temporary and should resolve in 2025, Bernstein says. But the firm sees issues at Marine as longer-term.
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