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Textron Rises as Goldman Sees Business Jets Back in Style

Stock MarketsApr 08, 2021 11:10AM ET
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© Reuters.

By Christiana Sciaudone

Investing.com -- Business jets are back. 

Textron (NYSE:TXT) rose 1% after Goldman Sachs (NYSE:GS) upgraded the stock to buy from neutral, saying the market has improved, especially in the company's aircraft categories and for Cessna aircraft, specifically, StreetInsider reported. Its industrial and commercial helicopter segments should also benefit from the economic recovery, according to analyst Noah Poponak.

"We see substantial upside to consensus earnings estimates, investor expectations appear low, and valuation levels are among the lowest in our coverage," Poponak wrote in a note. 

With no one going anywhere, demand for any aircraft has been minimal at best over the past year of pandemic living. But vaccinations that are increasing across the country and economies that are reopening are leading to increased demand and business activity.

Jefferies (NYSE:JEF), meanwhile, raised the price target on Textron to $65 from $60, while maintaining a buy rating, StreetInsider reported.

 

 

 

Textron Rises as Goldman Sees Business Jets Back in Style
 

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Roger Miller
Roger Miller Apr 08, 2021 11:56AM ET
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A good example of who benefits the most from government (central planners) spending and intervention by way of the Federal Reserve. Let’s hear more about mainstreet local business’ winning.
 
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