Textron Inc (TXT) Gets a Hold Rating from Morgan Stanley

By Carrie Williams

Morgan Stanley analyst Rajeev Lalwani maintained a Hold rating on Textron Inc (TXTResearch Report) today and set a price target of $51.00. The company’s shares closed last Monday at $47.57.

According to TipRanks.com, Lalwani is a 4-star analyst with an average return of 5.4% and a 65.5% success rate. Lalwani covers the Services sector, focusing on stocks such as Allegiant Travel Company, Southwest Airlines, and Hawaiian Holdings.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Textron Inc with a $57.50 average price target, which is a 22.5% upside from current levels. In a report issued on September 27, Vertical Research also downgraded the stock to Hold with a $54.00 price target.

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Based on Textron Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $3.23 billion and net profit of $217 million. In comparison, last year the company earned revenue of $3.2 billion and had a net profit of $563 million.

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Textron, Inc. is a multi-industry company, which leverages global network of aircraft, defense, industrial, and finance businesses to provide customers innovative solutions and services. The company operates its business through the following segments: Textron Aviation, Bell, Textron Systems, Industrial, and Finance.