TD Cowen analyst Gautam Khanna maintained a Buy rating on General Dynamics today and set a price target of $340.00.
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Gautam Khanna has given his Buy rating due to a combination of factors related to General Dynamics’ performance and prospects. One of the key reasons is the improved delivery cadence of the G700 aircraft, which is tracking well to plan. The recent acceleration in completion cycle times for the G700 suggests potential upside in deliveries for the third and fourth quarters, which could positively impact the company’s performance.
Furthermore, while there may be some challenges with the G800 deliveries not meeting the initial targets, the overall outlook remains strong due to the robust performance of other models like the G650ER. The final deliveries of the G650ER to the Italian Air Force in August highlight the continued demand and strength in General Dynamics’ product lineup. These factors collectively support a positive outlook for the company’s stock, justifying the Buy rating.
In another report released on August 25, Bank of America Securities also maintained a Buy rating on the stock with a $370.00 price target.