BUZZ-Jefferies trims PT on General Dynamics on weak defense outlook

Reuters04-07
BUZZ-Jefferies trims PT on <a href="https://laohu8.com/S/GD">General Dynamics</a> on weak defense outlook

** Jefferies cuts price target on defense and aerospace major General Dynamics GD.N to $380 from $385, maintains rating at "hold"

** New PT still represents an upside of 8.1% from the stock's last close

** Brokerage says quarterly results appear soft, with weaker aerospace and technology performance weighing on revenue, margins, and earnings

** Adds macro weakness is pushing aerospace book-to-bill below parity, while the lack of international defense awards is limiting operating leverage across defense businesses

** Cuts Q1 EPS forecast to $3.56 from $3.60

** 15 of 25 brokerages rate the stock "buy" or higher, nine "hold" and one "sell"; their median PT is $394 - data compiled by LSEG

** As of last close, stock had risen 4.4% YTD

(Reporting by Apratim Sarkar in Bengaluru)

((Apratim.Sarkar@thomsonreuters.com))

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