Susquehanna analyst Charles Minervino initiated Textron with a Neutral rating as its largest business, Textron Aviation, is in the midst of what will likely be a multi-year upcycle in business jet orders. Coupled with new product launches, the cycle should be an attractive tailwind for orders revenue growth and margin expansion. However, he believes the potential large-scale orders in Aviation and Bell are at least partially factored in already and notes that his 2019-2020 EPS estimates are slightly below consensus. Minervino has a $52 price target on Textron shares.