RTX upgraded to Buy from Hold at Melius Research

Melius Research upgraded RTX (RTX) to Buy from Hold. The Middle East conflict brings the need for the U.S. to replace missiles, missile interceptors, damaged radars, and aircraft, the analyst tells investors in a research note. Melius expects high-single-digit sales growth for the defense market through 2028. This should enable the defense primes to sustain high-single-digit sales growth into the 2030s, the analyst tells investors in a research note.