Jefferies upgraded General Dynamics to Buy from Hold with a price target of $335, up from $305. The analyst the company’s Gulfstream revenue to grow revenue 40% in 2024, supporting total General Dynamics growth of 10% in 2024 and 2% in 2025. The firm also sees sales momentum in the company’s defense portfolio as well as less margin risk. General Dynamics will also use free cash flow from debt pay-down to stock buybacks, Jefferies adds.
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