Analyst: Textron Stock Has "Robust Business Momentum"

Year-over-year, TXT is already up more than 84%

Digital Content Manager
Aug 31, 2021 at 10:44 AM
facebook twitter linkedin

Textron Inc. (NYSE:TXT) is up 1.8% at $73.26 this morning, after the security earned an upgrade from Cowen an Company to "outperform" from "market perform," as well as a price-target hike to $95 from $75. The analyst in question said the firm expects robust business momentum and improved long-term potential for the company's business jets. Plus, Textron's unit deliveries are expected to bounce back to pre-pandemic levels or higher in 2022, with additional opportunities to become a key player in the electric helicopter sector. 

The 80-day moving average has been instrumental in the jet stock's climb, containing several pullbacks along the way. More recently, shares scored an Aug. 13, all-time high of $74.79. Year-over-year, TXT is up 84.8%.

Analysts were already optimistic towards Textron stock coming into today, making this bull note all the more impressive. Of the eight in coverage, five maintain a "strong buy," rating, with zero "sells" on the books.

The options pits have been firmly in the bullish camp as well. This is per the equity's Schaeffer's put/call open interest ratio (SOIR), which stands higher than only 6% of readings from the last year. In other words, these traders have rarely been more call biased. Today is more of the same --albeit amid low absolute volume-- with calls trading at double the intraday average. Most popular is the September 75 call, followed by the 80 call in the same series.


If you are not making money with options, you aren’t buying options like this…

There is no options strategy that more perfectly approaches trading the fastest moving and most volatile stocks available in the marketplace than this one. In fact, there is no strategy that better utilizes put options for optimal returns and a real trading edge over other traders in the exact same market. New options traders fail out at an incredible rate without proper trade research, execution timing, and option picking. Capitalize on Schaeffer’s 100+ years of options trading excellence with the most coveted product launch in company history. Don't waste another second... join us right now before the next round of trades are released!



Special Offers from Schaeffer's Trading Partners