BofA analyst Ronald Epstein downgraded RTX to Neutral from Buy with a price target of $95, down from $120. On top of prior durability concerns with the GTF engine, RTX has announced that Pratt & Whitney would be accelerating inspections of some GTF engines due to concerns that a rare powder metal issue may be deteriorating engines, the analyst noted. Given the Pratt & Whitney troubles, the 2025 free cash flow target “seems far from possible” at the current rate, the analyst tells investors.
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