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Textron

$66.80

0.13 (0.19%)

09:49
07/17/18
07/17
09:49
07/17/18
09:49

Technical Earnings Preview: Textron near highs before news

The stock is in a strong uptrend on almost all time frames and trading near 52-week highs. If the new is a positive surprise, the first resistance level of note is the 52-week high at $69.36. On a breakout above the high, next resistance levels to watch as potential upside objectives would be at $70.14. $71.30, and $74.40. If the news is a negative surprise, there is one major technical feature to be aware of. The price action since April has resulted in an "Island" of price, which is caused by a large gap. Part of that gap was later filled, but not entirely. Initial support on a decline would be at $64.57, and then at $62.57 and the $60 area. A significant gap-down in reaction to news that does not get filled would create an "Island Top", which would be technically very bearish for future price.

  • 18

    Jul

TXT Textron
$66.80

0.13 (0.19%)

04/19/18
BOFA
04/19/18
UPGRADE
BOFA
Buy
Textron upgraded to Buy from Underperform at BofA/Merrill
04/19/18
04/19/18
UPGRADE
Target $75

Buy
Textron upgraded to Buy from Underperform at BofA/Merrill
As previously reported, BofA/Merrill upgraded Textron two notches to Buy from Underperform and raised its price target to $75 from $57. Analyst Ronald Epstein said Improving business jet demand combined with a recovery in the US Department of Defense budget could provide accelerating growth. Textron Aviation's Q1 revenue and margins were better than expected, and a recovery at Cessna is occurring earlier than expected, the analyst wrote in a note to investors.
04/19/18
WELS
04/19/18
NO CHANGE
Target $72
WELS
Outperform
Textron price target raised to $72 from $67 at Wells Fargo
Wells Fargo analyst Sam Pearlstein raised his price target for Textron to $72 from $67 following quarterly results. The analyst reiterates an Outperform rating on the shares.
05/24/18
STFL
05/24/18
NO CHANGE
Target $65
STFL
Buy
AeroVironment well-positioned to win new Army contract, says Stifel
Separate from AeroVironment's (AVAV) recent Switchblade contract announcement, Stifel analyst Joseph DeNardi highlighted that the Army recently posted a request for information for Switchblade production from FY19-FY26. DeNardi said it is unclear what the likelihood is that AeroVironment continues to be the sole-source Switchblade provider as it has been from FY17-FY19, as he assumes multiple contractors will reply and suspects that offerings presumably from companies like Raytheon (RTN), Textron (TXT) and possibly Lockheed (LMT) will be more mature than they were a few years ago. Still, he is encouraged by the length of the performance period for the new RFI and views AeroVironment as well-positioned to win the competition, DeNardi tells investors. He keeps a Buy rating and $65 price target on the stock.

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