BofA Lifts RTX Corporation (RTX)'s Price Target, Maintains Buy Rating Citing Momentum Across Business Segments

RTX Corporation (NYSE:RTX) is among the top 8 defense stocks based on ChatGPT’s advice. On October 27, BofA analyst Ronald Epstein hiked the price target on the stock to $215 from $175 and maintained a Buy rating on its shares.

The analyst noted growing momentum across the company’s Collins Aerospace, Pratt & Whitney, and Raytheon businesses, and argued that RTX Corporation (NYSE:RTX) was finally in a position to reap the rewards that were initially anticipated from the merger of Raytheon Company (RTN) and United Technologies Corporation (UTX) back in 2020.

BofA’s revision comes after the company declared Q3 FY25 results on October 21, reporting robust sales and profit growth across the three segments. RTX also raised its revenue and profit guidance for the full year, amid soaring demand for its missiles and aftermarket services, which strengthened its ability to face the adverse fallout from tariffs.

Following the earnings call, several firms adjusted their positions on the stock. These included UBS, Morgan Stanley, and Susquehanna, which substantially raised their price targets for RTX Corporation (NYSE:RTX), citing the strong financial results.

Overall, Wall Street analysts maintain a positive outlook for the stock, with a one-year average share price target of $192.06, representing an upside potential of 8.5% as of the close on October 29.

RTX Corporation (NYSE:RTX) is a giant in the global aerospace and defense industry, providing systems and services to commercial, military, and government clients. It operates through three main businesses: Collins Aerospace, Pratt & Whitney, and Raytheon.

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Disclosure: None.