Textron (TXT) PT Raised to $70 at Stephens, Says Aviation Backlog Points to Business Jet Recovery

Stephens raised its price target on Textron (NYSE: TXT) to $70.00 (from $66.00) while maintaining a Equal Weight rating.

Analyst Drew Lipke remains sidelined on the name citing balanced risk/reward. The analyst sees a realistic scenario of over 20% increase to his 2019 estimates with a recovery in the business jet market and sees a bull-case scenario where the equity trades upwards of $75.00.

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