RTX Stock: Wells Fargo Analyst Forecasts Strong Recovery in 2024
Headwinds are fading
2023 was a tough year for RTX, formerly known as Raytheon Technologies, due to engine issues impacting their Pratt & Whitney unit.
Planes grounded, engines inspected: An issue with engine parts degradation caused by impurities led to costly repairs and customer compensation.
Wells Fargo analyst raises rating and price target: Predicts near-term recovery in stock price and long-term rebound in margins at the defense business.
Is RTX a buy?
Investing outlook: RTX looks promising for 2024 with contained engine issues and shareholder return plan, but faces long-term challenges in Pentagon budget constraints.
Stock Advisor recommendations: 10 other stocks are favored over RTX, offering potential for higher returns over time.
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