Textron initiated with a Peer Perform at Wolfe Research

Wolfe Research analyst Myles Walton initiated coverage of Textron with a Peer Perform rating and no price target. The analyst sees a "reasonable but not compelling" valuation, saying "cross-currents" in three of the company’s four segments, along with softening business jet stats, will likely cap the stock’s multiple. The firm thinks a 2023 year-end stock price could range from the high- $50s to the high-$70s versus today’s $68.