RTX (NYSE: RTX) beat on both the top and bottom lines in its earnings report last week. But it also released guidance for the rest of 2024 which revealed less than many analysts hoped.

That news led Wells Fargo analyst Matthew Akers to trim his RTX price target by $1 (to $119 per share). The new target implies 16% upside over the next 12 months. On balance, the analyst remains optimistic about this defense contractor's chances and maintains his "overweight" rating on the stock.

Why?

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Source Fool.com