BUZZ-Citi raises PTs on aerospace, defense firms

Reuters
14 Jul
BUZZ-Citi raises PTs on aerospace, defense firms

** Citi raises price targets on aerospace and defense firms such as Boeing BA.N, Curtiss-Wright CW.N, L3Harris LHX.N, General Dynamics GD.N, RTX Corp RTX.N, Leidos LDOS.N, and TransDigm Group TDG.N

** Says momentum in the sector remains strong, with rising commercial production, robust aftermarket activity and solid demand in business jets and defense

** Says it is monitoring whether Boeing can sustain 737 production at 38/month with all key performance indicators in the green and a path to 42/month by year-end

** Also says it is tracking General Dynamics' resilience of business jet cycle, ability to deliver on strong backlogs, influence of global conflicts on international defense demand and potential risks from tariff exposure

** As of last close, S&P 500 Aerospace & Defense (Industry) .SPLRCAED was up 27.6% YTD

Companies

New PT

Old PT

Rating

Boeing

$270

$220

Buy

Curtiss-Wright

$568

$525

Buy

General Dynamics

$348

$330

Buy

L3Hariss

$300

$280

Buy

Leidos

$190

$186

Buy

RTX

$182

$148

Buy

TransDigm

$1,795

$1,635

Buy

(Reporting by Apatim Sarkar)

((Apratim.Sarkar@thomsonreuters.com))

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