In a report issued on August 27, Peter Skibitski from Alembic Global initiated coverage with a Buy rating on General Dynamics Corp (NYSE: GD) and a price target of $252. The company’s shares closed yesterday at $195.62.
Skibitski wrote:
“We anticipate modest margin contraction at Aerospace as initial G500/600 deliveries leave the factory, but the mid-term trajectory should be upward, in our view. Combat (military ground vehicles, etc., such as the M1 Abrams tank) is expected to be the fastest Defense Segment grower, with management guiding to a 7% CAGR through 2021.”
According to TipRanks.com, Skibitski is a 4-star analyst with an average return of 22.7% and a 85.0% success rate. Skibitski covers the Consumer Goods sector, focusing on stocks such as L3 Technologies Inc, Huntington Ingalls, and BWX Technologies.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for General Dynamics Corp with a $238.38 average price target, implying a 21.9% upside from current levels. In a report issued on August 15, Argus Research also maintained a Buy rating on the stock with a $250 price target.
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General Dynamics Corp’s market cap is currently $57.96B and has a P/E ratio of 19.78. The company has a Price to Book ratio of 4.83.
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General Dynamics Corp. is an aerospace and defense company, which engages in the provision of tanks, rockets, missiles, submarines, warships, fighters and electronics to all of the military services. It is organized into four business groups: Aerospace, Combat Systems, Information Systems and Technology, and Marine Systems.
