General Dynamics price target raised to $406 from $365 at Susquehanna

Susquehanna raised the firm’s price target on General Dynamics (GD) to $406 from $365 and keeps a Positive rating on the shares. The firm updated its model following Q3 results where they raised estimates due to a standout performance by the Aerospace division. The business aviation market remains strong overall, with management calling out accelerated demand across all models, particularly in North America. Elsewhere in the portfolio, overall demand for the Defense businesses remains robust as both Marine and Technology ended 3Q with record backlog levels.