Citi analyst Jason Gursky initiated coverage of Textron with a Buy rating and $90 price target. The analyst is constructive on the company’s revenue and earnings visibility given recent backlog growth, particularly in its Aviation and Bell segments. This is set against a valuation that appears to be pricing in a recessionary environment, the analyst tells investors in a research note. The firm, however, is more bullish given increased adoption of private travel post-pandemic and tight supply throughout the industry.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on TXT: