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Key Points We are terminating coverage of Textron Inc. (TXT; previously rated Neutral) due to a change in research focus. Going forward, we will no longer maintain an investment rating or target...
Key Points We're updating our outlook for GD for the first time post the firm's 4Q earnings results, and we're maintaining our Neutral rating on the shares. Our target price rises a...
Key Points Q1 stronger than feared, but already priced in: Solid volumes and PE margin expansion offset ethylene weakness; consensus broadly captures y-o-y earnings decline Earnings upside underappreciated: Product price hikes imply...
Key Points We’re updating our outlook for BA after yesterday’s release of 1Q26 orders and deliveries data. We’re making minimal changes to our forecast but our target price declines USD13 to...
Key Points 8–9 month supply chain normalization keeps markets tight and supports higher-for-longer pricing Elevated oil, North American cost advantages, and accelerating capacity rationalization drive meaningful upside to polyethylene pricing and earnings,...