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Textron price target lowered to $86 from $90 at Goldman Sachs

Goldman Sachs lowered the firm’s price target on Textron (TXT) to $86 from $90 and keeps a Neutral rating on the shares. The firm notes the company reported consolidated Q2 revenue and EPS above consensus. Full-year P&L guidance was reiterated, while cash flow was raised on cash tax. Goldman sees mixed medium-term fundamentals across the segments as Aviation demand has been solid, but is cyclical, and it has been tough to grow deliveries. The Bell FLRAA win was a positive, but there will be margin questions as they work into and through LRIP, Goldman adds.

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