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General Dynamics Initiated At RBC Capital, With Notable Upside

·1 min read
  • RBC Capital analyst Ken Herbert initiated coverage on General Dynamics Corp (NYSE: GDwith Outperform rating and a price target of $275, implying an upside of 19%.

  • The analyst states that GD is a leading supplier of business jets, government IT services, ships, and ground equipment for the aerospace and defense industry. It faces near-term risk associated with the broader economic outlook, he added.

  • Also ReadGeneral Dynamics Lands $1.1B Foreign Military Sales Order

  • GD is investing to substantially increase its Gulfstream jet production, which should be a source of revenue and margin upside through 2024 as the company looks to further its competitive position.

  • Herbert believes the company faces substantial execution risk, but the rating reflects the ability to own a leading global brand at an attractive valuation.

  • Price Action: GD shares are trading lower by 0.89% at $231.61 on the last check Tuesday.

Latest Ratings for GD

Date

Firm

Action

From

To

Mar 2022

Wells Fargo

Maintains

Overweight

Mar 2022

Morgan Stanley

Maintains

Equal-Weight

Feb 2022

Morgan Stanley

Upgrades

Underweight

Equal-Weight

View More Analyst Ratings for GD

View the Latest Analyst Ratings

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