- Morgan Stanley analyst Kristine Liwag upgraded General Dynamics Corp GD to Equal Weight from Underweight and raised the price target to $215 (an upside of 1.2%), from $210, after management provided "strong visibility" and an "encouraging" three-year outlook for the Gulfstream business on its Q4 earnings call.
- Related: General Dynamics Clocks 1.8% Revenue Decline In Q4; Bottom-Line Tops Street View
- Liwag mentions while 2022 is expected to be "a modest year" for the segment, General Dynamics expects deliveries to ramp from 123 aircraft in 2022 to 170 in 2024, or an 18% compound annual growth rate, as it works to satisfy "white-hot demand for business jets" that is "showing little sign of abating."
- Also Read: General Dynamics To Begin Work On $518M Global Logistics Contract To Support US Army CECOM.
- Price Action: GD shares are trading higher by 0.07% at $212.32 on the last check Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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