Textron Inc TXT:NYSE

Last Price$68.33NYSE Closing Price as of 4:10PM ET 8/15/22
NYSE 15-minute delayed Bid/Ask Quotes
Today's Change+0.25(0.37%)
Bid (Size)$67.03 (1)
Ask (Size)$69.56 (1)
Day Low / High$67.50 - 68.37
Volume655.3 K

Research Alert: CFRA Keeps Hold Opinion On Shares Of Textron Inc.

12:35AM ET 10/29/2021 MT Newswires
CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We lift our 12-month target price to $77 from $71, 17x our 2023 EPS estimate (in line with TXT's 5-year forward P/E average). We start our 2023 EPS estimate at $4.56, trim 2022 to $3.83 from $3.85, and raise 2021 to $3.34 from $3.17. Q3 adjusted EPS of $0.85 (+60% Y/Y) beat consensus by $0.07. Q3 revenue grew 9% Y/Y, led by surging demand for private planes in the Aviation segment (39% of revenue, +49% Y/Y). Aviation sales are now roughly in line with pre-pandemic level, and we expect they'll move sharply higher over the next year as backlog has surged to 83% above Q3 2019 level on U.S. private jet usage up 20% from pre-pandemic. Sales of defense products and services (25% of revenue) were disappointing, however, falling 6% Y/Y. Further, Industrial (24% of revenue, -12% Y/Y) saw a sharp decline related to shortages across the automotive supply chain. We remain at Hold, as we see TXT shares priced near fair value on a balance between growth and contraction across segments.