General Dynamics price target raised to $285 from $260 at Cowen

Cowen analyst Cai von Rumohr raised the firm’s price target on General Dynamics to $285 from $260 and keeps an Outperform rating on the shares. The analyst said despite a slowing economy, the company’s Q3 guide for 2023-24 indicates 148 and 170 deliveries, respectively and implies 16-19% program cycle gains at Gulfstream. He sees improved Combat prospects from higher global defense spending a peer-high 7-8% sales increases for General Dynamics in 2023-24.