CFRA Keeps Hold Opinion On Shares Of General Dynamics Corporation
CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: Our 12-month target price of $275, raised $20, reflects a 16.5x multiple of projected ’25 EPS, slightly above GD’s long-term historical forward average. We think a modest premium is reasonable given what should be an improving operating margin environment. We cut our ’24 EPS estimate by $0.17 to $14.67 and start ’25’s at $16.63. Q4 EPS of $3.64 vs. $3.58, missed the consensus view by $0.03, but we believe the miss was due entirely to the Gulfstream G700 not being certified by year-end, yielding fewer sales of the G700 in Q4 than expected. We do think GD can recover most of the lost ground on this front in ’24. GD’s book-to-bill ratio in Q4 in Aerospace was a solid 1.2x, and we think this augurs well over […]
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