Textron initiated with an Equal Weight at Wells Fargo

Wells Fargo initiated coverage of Textron (TXT) with an Equal Weight rating and $92 price target The firm cites the company’s “relatively slow” growth and MV-75 risk for the neutral rating. While Textron’s valuation discount is “larger-than-usual,” its growth will likely continue to “underwhelm,” the analyst tells investors in a research note.