Textron Stock Hit With Hefty Price-Target Hike From Morgan Stanley

It looks like even more bullish analyst attention could be on the horizon

Digital Content Manager
Jun 29, 2021 at 9:49 AM
facebook X logo linkedin


The shares of Textron Inc (NYSE:TXT) are up 3.9% at $69.80 this morning after Morgan Stanley upgraded the aerospace and defense concern to "overweight" from "equal weight," and lifted its price target to $87 from $49. Several other analysts have chimed in on TXT recently, including Cowen, with the analyst lifting its price target to $75 from $59. 

This deluge of mostly positive analyst attention has given TXT a leg up on the charts, boasting an over 40% year-to-date lead. The stock did pull cool mid-month, though the 60-day moving average deftly captured this  pullback, guiding the shares higher. Today's pop puts TXT even closer to its two-year high of $70.68, touched on June 8. 

There's still room for analyst upgrades. Coming into today, four of the nine members of the brokerage bunch covering Textron stock called it a "hold." The stock could also benefit from a short squeeze, as short interest is up 8.9% in the last two reporting periods, and it would take four days to cover these bearish bets, at TXT's average daily pace of trading. 

 

*SPONSORED CONTENT*

How to collect 1 dividend check every day for LIFE

Did you know you could collect 1 dividend check every day the market is open? You could also do it starting with just $605! For me, I'm collecting 70 dividend checks every quarter…which averages around 1.1 dividend checks every business day. There's no trading behind this... no penny stocks or high-risk investments. All you do is buy and hold and you're set. There's no set up required either. If you start buying the dividend stocks I show you today... you could collect 1 dividend per day starting as early as this week. Click here for all the details.

*SPONSORED CONTENT*