BUZZ-Street View: RTX to benefit from strong demand, defense market optimism-To The Moon - Tiger Brokers Online Investing Community - To The Moon

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BUZZ-Street View: RTX to benefit from strong demand, defense market optimism

Reuters10-23 22:52

** Aerospace and defense giant RTX on Tuesday raised 2024 profit and sales forecasts for second time on strong demand for aircraft repairs and defense systems; reported better-than-expected quarterly earnings

** Median PT of 26 brokerages covering stock is $130 - LSEG data

GTF ISSUE MAKING PROGRESS

** BofA Global Research ("buy", PT:$145) expects continued defense demand, especially from international clients, that could benefit RTX unit Raytheon (RTN)

** "It appears the RTN turn-around is here and in early innings," brokerage says

** Morgan Stanley ("equal weight", PT:$130) expects Raytheon and other RTX businesses, Pratt & Whitney and Collins, to benefit from strong demand for commercial aftermarket

** "We view it positively that the geared turbofan (GTF) powder metal issue continues to progress," brokerage says

** RBC ("sector perform", PT:$130) says RTX's execution on GTF issue and 2024 plan has been strong

** Vertical Research Partners ("buy", PT:$137) says current potential vulnerability lies in aerospace original equipment manufacturer sector, challenge not unique to RTX

(Reporting by Ragini Mathur in Bengaluru)

((ragini.mathur@thomsonreuters.com))

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