RTX Stock Has 23% Upside, According to 1 Wall Street Analyst
A Wells Fargo analyst recently added (NYSE: RTX) to a list of "tactical ideas" for the second quarter. The analyst maintained the company's price target of $120 and an overweight rating on the stock. That would imply a 22% upside on the stock over the next 12 months or so.
The renewed enthusiasm for the stock is related to RTX's ongoing problem with its Pratt Whitney geared turbofan (GTF) engines. As a reminder, Pratt Whitney found a potential contamination issue in the powder coating used on turbine discs in GTF engines.
In September, RTX management told investors that the "majority of incremental engine removals will occur in 2023 and early 2024." As such, it seems likely that management will be able to give an even more solid estimate of the final cost of the inspections during the subsequent quarterly earnings.
Source Fool.com
RTX A/S Stock
The community sentiment towards RTX A/S is currently rather negative with 6 Sell predictions and no Buy predictions.
With a target price of 8 € there is a slightly negative potential of -16.32% for RTX A/S compared to the current price of 9.56 €.
