Morgan Stanley analyst Kristine Liwag raised the firm’s price target on General Dynamics to $248 from $243 and keeps an Equal Weight rating on the shares. The company issued an in-line Q4 report, but its 2023 outlook largely came up short of consensus expectations, the analyst tells investors in a research note. However, the firm noted General Dynamics’ guidance "may prove conservative" and they see EPS upside potential from share repurchases.
Published first on TheFly
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- General Dynamics price target lowered to $222 from $240 at Credit Suisse
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- General Dynamics sees FY23 EPS $12.60-$12.65, consensus $13.90
- General Dynamics expects CapEx to step back down below 2.5% of sales in FY23
