Industrials

RTX’s Pratt & Whitney Fixing Affected Engines Faster, Raytheon Could See Turnaround in 2025, BofA Says

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RTX’s (RTX) Pratt & Whitney unit is delivering new full-life disks ahead of expectations and fixing impacted engines faster, while the Raytheon business is likely poised for a turnaround in 2025, BofA Securities said in a note Thursday. BofA analysts, including Ronald Epstein, took note of better-than-projected execution in servicing contaminated powder-metal discs in geared turbo fan aircraft engines. Pratt & Whitney is fixing affected engines faster to avoid a peak of 650 jets on the ground, according to the analysts. The company’s Collins Aerospace subsidiary continues to take advantage of higher aftermarket demand and a recovery in wide-body flight volume, while Raytheon’s recent restructuring and management changes “give us more confidence in a turnaround of that business in 2025,” the analysts said. The brokerage upgraded its rating on the aerospace and defense contractor’s stock to neutral from underperform and raised its price objective to $100 from $78.

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General Dynamics (NYSE:GD) Stock Analyst Ratings

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General Dynamics (NYSE:GD) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/25/2024 14.1% RBC Capital → $300 Reiterates Outperform → Outperform 10/26/2023 8.39% Susquehanna $270 → $285 Maintains Positive 10/26/2023 0.41% Wells Fargo $243 → $264 Maintains Overweight 10/11/2023 0.79% UBS → $265 Initiates Coverage On → Neutral 09/28/2023 3.07% Deutsche Bank → $271 Initiates Coverage On → Buy 09/26/2023 -1.88% Berenberg $254 → $258 Maintains Market Perform 09/25/2023 2.69% Susquehanna → $270 Reiterates Positive → Positive 09/19/2023 7.63% Citigroup $283 → $283 Maintains Buy 09/18/2023 -7.58% Wells Fargo $258 → $243 Maintains Overweight 07/28/2023 -1.88% Wells Fargo $244 → $258 Maintains Overweight 07/27/2023 -4.92% Morgan Stanley $248 → $250 Maintains Equal-Weight 07/27/2023 2.69% RBC Capital → $270 Reiterates Outperform → Outperform 07/27/2023 -4.54% JP Morgan $245 → $251 Maintains Overweight 04/27/2023 2.69% RBC Capital $280 → $270 Maintains Outperform 04/27/2023 -4.54%

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Accenture (NYSE:ACN) Stock Analyst Ratings

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Accenture (NYSE:ACN) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/25/2024 7.67% UBS $365 → $400 Maintains Neutral 01/24/2024 7.67% Morgan Stanley $369 → $400 Maintains Overweight 12/20/2023 3.63% BMO Capital $350 → $385 Maintains Market Perform 12/20/2023 -1.75% UBS $333 → $365 Maintains Neutral 12/14/2023 -3.1% Wedbush $330 → $360 Maintains Outperform 11/16/2023 10.36% Redburn Atlantic → $410 Initiates Coverage On → Buy 11/07/2023 -10.37% UBS → $333 Initiates Coverage On → Neutral 09/29/2023 -8.48% RBC Capital → $340 Reiterates Outperform → Outperform 09/29/2023 -5.79% BMO Capital $360 → $350 Maintains Market Perform 09/29/2023 -19.25% TD Cowen $312 → $300 Maintains Market Perform 09/29/2023 -13.33% Baird $332 → $322 Maintains Neutral 09/29/2023 -19.25% Piper Sandler $312 → $300 Maintains Neutral 09/27/2023 -3.1% BMO Capital $355 → $360 Maintains Market Perform 09/26/2023 -11.18% Wedbush → $330 Reiterates Outperform → Outperform 09/22/2023 -16.02%

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Boeing Woes Weigh On Suppliers

/ / Industrials /

Aerospace supplier Hexcel says it’s yet to hear of any changes to the master production schedule for 737 output, but pledged not to be a bottleneck for planned rises at Boeing or Airbus. Still, the prospect of curtailed MAX output weighed on some suppliers, with Hexcel, Spirit AeroSystems and Montana Aerospace all shedding around 8%, and ATI down 5%. Boeing closed down almost 6%, pegging its market value decline since the Alaska Airlines incident around $30 billion.

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Visa Beats Q1 Earnings And Revenue Estimates, Issues Net Revenue Outlook

/ / Industrials /

Visa Inc. (NYSE:V) shares are trading lower in Thursday’s after-hours session after the company reported its first-quarter financial results. Here’s an overview of the metrics which are moving the stock. What To Know: Visa reported quarterly earnings of $2.41 per share which beat the analyst consensus estimate of $2.34 by 2.99%. Revenue clocked in at $8.60 billion, surpassing the analyst expectations of $8.54 billion, a 8.37% increase over sales of $7.94 billion the same period last year. Payments volume increased 8% while total cross-border volume rose 16%, on a year-over-year basis. Additionally, cash, cash equivalents and investment securities were $21.4 billion as of Dec. 31. Visa also stated that it sees second-quarter net revenue growth in the upper mid to high single-digit range while full-year net revenue growth is expected to be in the low double-digit range. “Our 2024 fiscal year is off to a solid start. In our first quarter, net

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Visa Inc. (V) Q1 2024 Earnings Call Transcript Summary

/ / Industrials /

The following is a summary of the Visa Inc. (V) Q1 2024 Earnings Call Transcript: Financial Performance: Visa reported an 8% YoY growth in payment volume during Q1 with U.S. and international payments volume growing 5% and 11% respectively. The overall processed transactions and net revenues also reflected a 9% growth. Cross-border volume, excluding intra-Europe, rose 16% YoY in constant dollars. Visa noticed a 20% increase in GAAP EPS and reported non-GAAP EPS as being up by 11%. The company bought back approximately $3.4 billion in stock and distributed over $1 billion in dividends to stockholders during the first quarter. No material changes to prior outlook for drivers, adjusted net revenues or EPS growth with net revenue growth and non-GAAP operating expense growth expected to be in the low double digits, and adjusted EPS growth in the low teens. Business Progress: Visa expanded its credentials by 6% and network tokens

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Boeing (NYSE:BA) Stock Analyst Ratings

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Boeing (NYSE:BA) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/25/2024 8.04% B of A Securities $255 → $225 Downgrades Buy → Neutral 01/18/2024 33.97% Susquehanna $306 → $279 Maintains Positive 01/16/2024 8.04% Wells Fargo $280 → $225 Downgrades Overweight → Equal-Weight 12/15/2023 51.26% UBS $275 → $315 Maintains Buy 12/12/2023 — William Blair Initiates Coverage On → Outperform 12/06/2023 12.85% Barclays $210 → $235 Maintains Equal-Weight 12/01/2023 27.25% Stifel → $265 Initiates Coverage On → Buy 11/28/2023 32.05% RBC Capital $200 → $275 Upgrades Sector Perform → Outperform 11/20/2023 29.65% Deutsche Bank → $270 Upgrades Hold → Buy 11/01/2023 — Goldman Sachs Maintains Buy 10/31/2023 4.2% Northcoast Research → $217 Upgrades Neutral → Buy 10/26/2023 -3.96% RBC Capital $210 → $200 Maintains Sector Perform 10/26/2023 30.13% Citigroup $285 → $271 Maintains Buy 10/26/2023 5.64% Morgan Stanley $235 → $220 Maintains Equal-Weight

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Boeing Buys Out Malaysian JV

/ / Industrials /

Boeing buys out partner Hexcel from their Malaysia-based ACM aircraft composite joint venture during 4Q. Hexcel says it was paid $45M for its 50% stake in the 22-year old business, which makes wing and aileron parts. Spirit AeroSystems makes the door plugs for Boeing’s 737 MAX at its Malaysia plant. Boeing says it reinstalled the plug that failed on an Alaska Airlines flight. Hexcel shares down 8% after big 4Q profit miss.

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General Dynamics Q4 Earnings, Revenue Rise

/ / Industrials /

General Dynamics (GD) reported Q4 earnings Wednesday of $3.64 per diluted share, up from $3.58 a year earlier. The company shares were up more than 5% in recent Wednesday trading. Analysts polled by Capital IQ expected $3.62. Revenue for the quarter ended Dec. 31 was $11.67 billion, up from $10.85 billion a year earlier. Analysts surveyed by Capital IQ expected $11.47 billion.

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