TD Cowen analyst Cai von Rumohr downgraded Textron to Hold from Buy with a price target of $95, down from $103. The firm cites industrial sector cyclical pressures and tough aviation margin compares versus an “abnormally strong” Q2 for the downgrade. In addition, the unexpected strike “adds uncertainty with few incremental positives in prospect to drive the stock,” the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TXT:
- Textron Aviation Workers Strike, Production at Risk
- Textron says machinists, aerospace workers called strike against Aviation
- Textron earns FAA approval for new Safety Management System
- Textron downgraded to Equal Weight from Overweight at Morgan Stanley
- Textron removed from US Conviction List at Goldman Sachs