Baird Downgrades RTX to Neutral, Raises Price Target to $94
Portfolio Pulse from Benzinga Newsdesk
Baird analyst Peter Arment has downgraded Raytheon Technologies (RTX) from Outperform to Neutral, while increasing the price target from $88 to $94.

January 16, 2024 | 11:59 am
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NEUTRAL IMPACT
Baird analyst downgraded RTX to Neutral but raised the price target to $94, indicating mixed sentiment.
The downgrade to Neutral suggests that Baird sees limited upside potential or increased risk in RTX's near-term outlook. However, the increase in the price target to $94 implies that Baird still sees some positive aspects to RTX's valuation or future prospects. This mixed sentiment may lead to a neutral short-term impact on RTX's stock price as the market digests both the downgrade and the higher price target.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100