RTX price target raised to $102 from $96 at RBC Capital

RBC Capital analyst Ken Herbert raised the firm’s price target on RTX to $102 from $96 and keeps a Sector Perform rating on the shares as part of a broader research note previewing Q2 results for the Aerospace & Defense sector. The focus for the aerospace cycle is on the health of the supply chain, the potential risk from de-stocking, current and planned production and delivery rates for both engines and airframes, the analyst tells investors in a research note, noting that the firm continues to view the aerospace demand environment as strong but also sees a more favorable outlook in the aftermarket. The outlook for defense remains mixed, with continued top-line strength but uncertainty on the margin outlook, RBC added.