RTX Added to Wells Fargo's Q2 2024 'Tactical Ideas List' on Promising Outlook

WallStreetZen04-02

Wells Fargo's Matthew Akers maintained their Strong Buy rating on Rtx (NYSE: RTX). The analyst also maintained a $120 price target.In a note issued by Langan, it was reported that Wells Fargo has ...

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The analyst also maintained a $120 price target.In a note issued by Langan, it was reported that Wells Fargo has ...</p>\n\n<a href=\"https://www.wallstreetzen.com/news/rtx-added-to-wells-fargo-s-q2-2024-tactical-ideas-list-on-promising-outlook\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IE00B7SZLL34.SGD","symbol_name":"Legg Mason ClearBridge - Value A Acc SGD-H","start_time":0,"source_url":"https://www.wallstreetzen.com/news/rtx-added-to-wells-fargo-s-q2-2024-tactical-ideas-list-on-promising-outlook","article_id":"2424571050","we_media_id":null,"thumbnails":["https://images.unsplash.com/photo-1662471520112-1fa9e9a569e2?crop=entropy&cs=tinysrgb&fit=crop&fm=jpg&ixid=M3w0NDY2OTN8MHwxfGFsbHx8fHx8fHx8fDE2OTEzMDgwMjJ8&ixlib=rb-4.0.3&q=80&w=260&utm_source=wallstreetzen&utm_medium=referral&utm_campaign=api-credit&h=180"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2424571050","pubTimestamp":1712038080,"sourceInfo":{"source_id":"wallstreetzen_highlight","name":"WallStreetZen"},"weMediaInfo":null,"summary":"Wells Fargo's Matthew Akers maintained their Strong Buy rating on Rtx (NYSE: RTX). 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The analyst also maintained a $120 price target.In a note issued by Langan, it was reported that Wells Fargo has added Rtx to its Q2 2024 \"Tactical Ideas List.\" Akers explained that their firm \"sees GTF grounded aircraft peaking soon, allowing investors to look past the one-time impact of the engine recall.\" Moreover, Wells Fargo believes that \"defense margins should continue to expand on an improved mix and recovering EACs (Equivalent Annual Costs),\" as stated by Langan.Currently, 28.6% of top-rated analysts rate RTX as a Strong Buy or Buy, while 71.4% consider it a Hold. Notably, no analysts recommend or strongly recommend selling the stock. This indicates a generally positive sentiment towards RTX among analysts.Looking at the consensus forecast, analysts predict that RTX's upcoming year will deliver earnings per share (EPS) of $4.95. If these projections hold true, it would represent a significant increase of 120.8% on a year-over-year basis.Examining the stock's performance, RTX's price has risen by 16.2% since its last quarterly report on December 31, 2023. However, on a year-over-year basis, the stock is down 2.8%. During this period, RTX has been underperforming the S&P 500, which has experienced a decline of 27.1%.It is worth noting that Wells Fargo analyst Matthew Akers is ranked in the top 11% of Wall Street analysts by WallStreetZen. With an average return of 13.4% and a win rate of 68.3%, Akers specializes in the Industrials and Technology sectors. This expertise adds credibility to their rating and analysis of RTX.Raytheon Technologies Corporation, the subject of Wells Fargo's rating, is an aerospace and defense company that provides advanced systems and services to commercial, military, and government customers worldwide. The company operates in four business segments: Collins Aerospace Systems, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense. Collins Aerospace Systems offers a range of aviation-related products and services, while Pratt & Whitney focuses on aircraft engines and auxiliary power systems. Raytheon Intelligence & Space develops sensors, training, and cyber and software solutions, while Raytheon Missiles & Defense produces advanced technologies for air and missile defense systems. The company is headquartered in Waltham, Massachusetts.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2424571050"}