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Investing.com - TD Cowen raised its price target on General Dynamics Corp. (NYSE:GD) to $300 from $290 on Monday, while maintaining a Buy rating on the aerospace and defense company’s stock. According to InvestingPro data, General Dynamics maintains a "GOOD" financial health score, with robust revenue growth of 14.1% over the last twelve months.
The price target increase reflects improved delivery trends for the company’s Gulfstream G700 business jet, according to TD Cowen. The research firm has revised its Gulfstream delivery estimates upward based on these positive developments. Trading at a P/E ratio of 19.5, InvestingPro analysis suggests the stock is currently undervalued.
TD Cowen now expects 15 G700 deliveries in the second quarter, up from its previous estimate of 12. This adjustment indicates stronger-than-anticipated production and delivery capabilities for the new large-cabin business jet model.
The firm also noted that the first Gulfstream G800 delivery remains possible in the second quarter, as one G800 aircraft is currently conducting post-completion flights. The G800 represents the longest-range aircraft in the Gulfstream fleet.
The new $300 price target represents 14.6 times TD Cowen’s estimated calendar year 2025 enterprise value to EBITDA ratio for General Dynamics. With analyst targets ranging from $239 to $330, investors can access comprehensive valuation metrics and 6 additional ProTips through InvestingPro’s detailed research report.
In other recent news, General Dynamics has secured several significant contracts from the U.S. Department of Defense. The company was awarded a $986.8 million contract modification for submarine development work, focusing on Columbia-class ballistic missile submarines and other naval projects, with completion expected by December 2031. Additionally, General Dynamics Ordnance and Tactical Systems received a $706.5 million contract for the production and delivery of 120mm ammunition, with the project set to be completed by June 2029. General Dynamics Land Systems also secured a $621 million contract modification for SGT Stout systems, with work expected to conclude by September 2028.
Moreover, General Dynamics Information Technology (GDIT) was awarded a $396 million contract to provide IT services to the U.S. Special Operations Command, emphasizing cybersecurity and digital modernization. In a separate development, Argus analysts raised their price target for General Dynamics to $295, maintaining a Buy rating. The analysts noted the importance of the aerospace and defense industry to the U.S. economy and highlighted management’s focus on improving production efficiencies and margins. They also mentioned that recent order trends and a strong backlog could positively impact the company’s revenue and earnings.
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