RTX price target lowered to $110 from $117 at Susquehanna

Susquehanna analyst Charles Minervino lowered the firm’s price target on RTX to $110 from $117 and keeps a Positive rating on the shares. The firm said its newly revised 2023 guidance modestly increased expectations for both the top line and the low end of the EPS range, while lowering FCF. The company also disclosed a Pratt & Whitney engine issue that will require the inspection and potential rework of 1,200+ PW1100 engines, which power the Airbus A320neo fleet.