These Analysts Slash Price Targets On General Dynamics Following Q1 Results

General Dynamics Corporation GD reported better-than-expected Q1 earnings.

General Dynamics reported first-quarter FY23 revenue growth of 5.2% year-over-year to $9.88 billion, beating the consensus of $9.33 billion. EPS increased by 1.1% Y/Y to $2.64, above the consensus of $2.59.

The company reported a year-over-year operating margin decline in multiple segments.

General Dynamics shares fell 3.6% to close at $214.83 on Wednesday.

These analysts made changes to their price targets on General Dynamics following earnings announcement.

• Bernstein cut the price target on General Dynamics from $251 to $245. Bernstein analyst Douglas Harter maintained a Market Perform rating.
• Baird slashed the price target on General Dynamics from $268 to $242. Baird analyst Peter Arment maintained an Outperform rating
• Credit Suisse lowered the General Dynamics price target from $239 to $220. Credit Suisse analyst Scott Deuschle maintained a Neutral rating on the stock.

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