Morgan Stanley Raises Price Target for RTX Following Strong Q2 Earnings
Raytheon Technologies Corporation (RTX) delivered strong second-quarter results on July 23, with shares rising sharply as the S&P 500 declined. Morgan Stanley responded by raising its price target from $220 to $240 and maintaining an Overweight rating, citing RTX's durable demand in aerospace and defense sectors. The company reported a year-over-year sales increase of 14% ($24.7 billion) with adjusted EPS up 21%. Full-year guidance was raised across all key metrics including sales, organic growth, and free cash flow. CEO Chris Calio highlighted the growing backlog as evidence of RTX's strong positioning for continued growth. Morgan Stanley emphasized Raytheon’s role in driving future earnings upside due to its robust international demand and a significant missile defense framework not yet reflected in current estimates.
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