BofA upgraded RTX to Neutral from Underperform with a price target of $100, up from $78, to reflect better execution in servicing contaminated powder-metal discs in Geared Turbo Fan, or GTF, engines at Pratt & Whitney. While Raytheon defense will likely continue to be pressured, recent restructuring and management changes give the firm more confidence in a turnaround of that business in 2025, the analyst tells investors.
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