RTX Corp. (RTX) PT Raised to $115 at RBC Capital

RBC Capital analyst Ken Herbert raised the price target on RTX Corp. (NYSE: RTX) to $115.00 (from $102.00) while maintaining a Sector Perform rating.

The analyst comments "RTX reported 2Q24 adj. EPS of $1.41, beating consensus of $1.30 by ~9%. Organic sales growth was ~10%, led by 19% growth in the commercial OE. The company raised its 2024 sales and EPS outlook, but lowered its FCF guide by ~$1B. Moreover, the company has not changed its financial assumptions on the GTF powder metal issue, which is incrementally positive. RTX did flush through a significant $575M charge in its defense business, a positive for the portfolio. We are maintaining our SP rating on lingering risk and pushing our PT to $115 (from $102)."

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