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GD

General Dynamics

$153.79

1 (0.65%)

15:31
10/05/16
10/05
15:31
10/05/16
15:31

General Dynamics awarded $101.3M contract modification

The U.S. Navy has awarded General Dynamics Electric Boat a $101.3M contract modification to continue development of the Common Missile Compartment for the Navy's Ohio Replacement submarine and the United Kingdom's Successor-class ballistic-missile submarine. The modification is for the procurement of 22 missile tubes to support the manufacturing of the Common Missile Compartment. Electric Boat is a wholly owned subsidiary of General Dynamics. Initially awarded in December 2012, the five-year, $1.85B contract calls for Electric Boat to perform research and development work for the Navy's next-generation ballistic-missile submarine, which is scheduled to begin construction in 2021. The potential value of the overall contract is $2.5B.

GD General Dynamics
$153.79

1 (0.65%)

05/17/16
COWN
05/17/16
NO CHANGE
Target $165
COWN
Outperform
General Dynamics price target raised to $165 from $158 at Cowen
Cowen raised its price target on General Dynamics to $165 from $158 and said they remain bullish on the stock, which is their top defense pick. The firm sees trough profit levels at Gulfstream, along with strong product momentum, defense EBIT growth and above average financial flexibility. Cowen reiterated its Outperform rating on General Dynamics shares.
08/10/16
BERN
08/10/16
UPGRADE
BERN
Outperform
General Dynamics upgraded to Outperform from Market Perform at Bernstein
08/10/16
BERN
08/10/16
UPGRADE
BERN
Outperform
General Dynamics upgraded to Outperform, valuation attractive, says Bernstein
As previously reported, Bernstein upgraded General Dynamics to Outperform from Market Perform and raised its price target to $180 from $168. Analyst Douglas Harned said shares of General Dynamics are valued at a larger discount to other prime contractors than it has been in the last 14 years and overly discounts weakness in the large cabin business jet market. Harned expects the defense business to grow from here with an increasing defense budget that supports Marine Systems and Combat Systems and sees little downside to shares even in a worst case scenario for Gulfstream.
08/10/16
08/10/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Disney (DIS) upgraded to Outperform from Neutral at Macquarie with analyst Tim Nollen saying he thinks Disney owning this technology gives it commanding position on future content viewership as Bam Tech is a premier OTT streaming technology, allowing Disney to connect directly with consumers. 2. Coach (COH) upgraded to Neutral from Underperform at BofA/Merrill with analyst Lorraine Hutchinson saying management guided margins to 18.5-19%, in line with her 18.5% estimate, reflecting a strategic reduction in the wholesale business, thinks more realistic EBIT targets indicates management has de-risked its outlook, and expects consensus estimates to move towards hers. 3. Philips (PHG) upgraded to Buy from Neutral at UBS with the firm citing management's targets for margin growth, improved momentum in two key divisions, and the company's position in businesses that are likely to benefit from the secular shift toward value based care. 4. Yelp (YELP) upgraded to Outperform from Market Perform at Raymond James, to Neutral from Underperform at BofA/Merrill, to Buy from Hold at Axiom, and to Buy from Neutral at Mizuho. 5. General Dynamics (GD) upgraded to Outperform from Market Perform at Bernstein with Douglas Harned saying shares of General Dynamics are valued at a larger discount to other prime contractors than it has been in the last 14 years and overly discounts weakness in the large cabin business jet market. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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