Deutsche Bank Reiterates Buy On General Dynamics Shares
In a research report issued today, Deutsche Bank analyst Myles Walton reiterated a Buy rating on General Dynamics (NYSE:GD). No price target was provided.
Walton wrote, “GD reported continuing 3Q EPS of $2.05 vs. our street high $1.98 and consensus’s $1.91. Sales were essentially flat from last year and in-line with our thinking at $7.75B as no segment substantially beat or missed our marks. EBIT beat by $18M as margins were 30bps higher than we expected at 12.9% (highest since 3Q 2008). Overall, segment performance added 2c to the, while lower corporate and taxes and higher shares netted an additional 5c. Given the beat and positive 4Q outlook, mgmt raised guidance by 25c to $7.60-$7.70. Maintain Buy given upside to target.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Myles Walton has a total average return of 6.8% and a 50.0% success rate. Walton has a 10.1% average return when recommending GD, and is ranked #744 out of 3339 analysts.