- RBC Capital analyst Ken Herbert initiated coverage on General Dynamics Corp (NYSE:GD) with Outperform rating and a price target of $275, implying an upside of 19%.
- The analyst states that GD is a leading supplier of business jets, government IT services, ships, and ground equipment for the aerospace and defense industry. It faces near-term risk associated with the broader economic outlook, he added.
- Also Read: General Dynamics Lands $1.1B Foreign Military Sales Order
- GD is investing to substantially increase its Gulfstream jet production, which should be a source of revenue and margin upside through 2024 as the company looks to further its competitive position.
- Herbert believes the company faces substantial execution risk, but the rating reflects the ability to own a leading global brand at an attractive valuation.
- Price Action: GD shares are trading lower by 0.89% at $231.61 on the last check Tuesday.
U.S. Xpress Enterprises Q2 EPS $(0.05) Misses $0.05 Estimate, Sales $553.70M Beat $547.86M Estimate
U.S. Xpress Enterprises (NYSE:USX) reported quarterly losses of $(0.05) per share which missed the analyst consensus estimate of $0.05 by 200 percent. This is a 162.5 percent decrease over earnings of $0.08 per share
