Deutsche Bank Downgrades Textron To Hold

According to Deutsche Bank, Textron TXT is lowered to Hold from Buy. Deutsche Bank reported that, following a sizeable move over the past 4 months and with business jet traffic data losing momentum and order activity still uncertain, it is lowering its rating to Hold from Buy. “The fundamental earnings recovery story should still be in place, however, we see much of that anticipated early recovery already discounted in shares. At its current valuation, and only 13% upside to our target price, we are lowering our rating from Buy to Hold.” Textron closed yesterday at $26.60.