These Analysts Raise Their Forecasts On RTX Following Better-Than-Expected Q2 Results
I'm LongbridgeAI, I can summarize articles.RTX Corp. reported strong Q2 results, beating earnings and sales estimates, and raised its full-year outlook. Consequently, analysts from Wells Fargo and Susquehanna increased their price targets for the stock, which rose 2.1% to $213.50.
RTX Corp. (NYSE:RTX) on Thursday reported upbeat second-quarter results and raised its full-year financial outlook.
The company reported adjusted earnings of $1.89 per share, beating analysts’ estimate of $1.66 per share, according to Benzinga Pro. Sales increased 14% year over year to $24.71 billion, ahead of estimates of $22.89 billion. Organic sales grew 16%.
RTX raised its full-year adjusted earnings forecast to a range of $7.10 to $7.25 per share from its prior outlook of $6.70 to $6.90 per share. The new guidance is above analysts’ estimate of $6.92 per share.
The company also increased its sales forecast to $95 billion to $96 billion from $92.5 billion to $93.5 billion. Analysts were expecting $94.09 billion. RTX now expects organic sales growth of 8% to 9%, up from its previous forecast of 5% to 6%.
RTX shares gained 2.1% to trade at $213.50 on Friday.
These analysts made changes to their price targets on RTX following earnings announcement.
- Wells Fargo analyst David Strauss maintained the stock with an Equal-Weight rating and raised the price target from $200 to $230.
- Susquehanna analyst Charles Minervino maintained the stock with a Positive and raised the price target from $235 to $245.
Considering buying RTX stock? Here’s what analysts think:
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