RBC Capital analyst Ken Herbert upgraded RTX (RTX) to Outperform from Sector Perform with a price target of $140, up from $130. The company’s diversification between defense and commercial is an asset heading into 2025, the analyst tells investors in a research note. The firm says RTX should benefit from a rotation into original equipment from additive manufacturing, with initial provisioning a potential tailwind for additive manufacturing sales. It believes the company’s defense portfolio is well positioned, and sees its better than peer defense growth as a positive.
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