Analyst Ronald Epstein of Bank of America Securities reiterated a Buy rating on General Dynamics, boosting the price target to $400.00.
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Ronald Epstein’s rating is based on General Dynamics’ strategic positioning in both business aviation and defense sectors, which are experiencing robust demand. The company’s strong performance in business jets, with significant deliveries in the third quarter, and its marine segment’s growth in defense, highlight its ability to capitalize on market opportunities.
Additionally, General Dynamics’ impressive order intake, with a book-to-bill ratio of 1.5x, indicates sustained growth potential. The company’s advancements in productivity and operational efficiency, particularly in the marine segment, further support the positive outlook. With strong cash generation across its segments and a raised price objective, Epstein sees General Dynamics as well-positioned for continued success.
In another report released yesterday, TD Cowen also maintained a Buy rating on the stock with a $370.00 price target.