Bernstein analyst Douglas Harned raised the firm’s price target on RTX (RTX) to $157 from $154 and keeps a Market Perform rating on the shares. The firm views RTX as having among the strongest outlooks in the defense industry for its Raytheon unit, along with positive trends for Collins. What has held Bernstein back on the stock has been Pratt & Whitney, particularly related to the Geared Turbofan. The firm is updating its Pratt model as it looks more closely at the highly profitable V2500 aftermarket and GTF outlook. Bernstein still sees Pratt headwinds but there should be, however, cash advantages post-2027, as V2500 royalties end GTF customer compensation comes down.
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