Baird analyst Peter Arment maintains $Textron (TXT.US)$ with a buy rating, and adjusts the target price from $109 to $100.
According to TipRanks data, the analyst has a success rate of 67.5% and a total average return of 14.4% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Textron (TXT.US)$'s main analysts recently are as follows:
Textron's third quarter performance was below expectations, and the company has reduced its EPS and free cash flow forecasts due to the effects of a strike impacting both the third and fourth quarters. However, a recovery is projected by 2025 with Aviation revenue surpassing the initial guidance for 2024 as delivery rates increase. Business jets are considered a significant influencer of the stock's performance, with expectations that as revenue increases and both book-to-bill ratios and backlogs decline, cyclical worries may press down on the stock's value.
A recent five-week strike at Textron Aviation operations in Wichita, KS has impacted deliveries for 2024, leading to a revised earnings estimate for that year. However, with the workforce returning, the outlook for recovery in 2025 is seen as positive for growth.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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