RTX added to ‘Q2 Tactical Ideas List’ at Wells Fargo

Wells Fargo added RTX to the firm’s Q2 Tactical Ideas List. Wells sees GTF grounded aircraft peaking soon, allowing investors to look through the onetime impact of the engine recall. Defense margins should expand further out on improved mix and recovering EACs, the firm notes. Wells has an Overweight rating on the shares with a price target of $120.