RTX Corporation (NYSE:RTX) is among the 8 Best Drone Stocks to Buy for the Next 3 Years. According to a report on TipRanks, Morgan Stanley analyst Kristine Liwag reiterated the firm’s Overweight rating on the stock on March 7, with a price target of $235.
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This is a reaffirmation of the investment banking company’s earlier update in late January when it lifted the price target from $215 following the defense contractor’s strong fourth-quarter results.
As of the close of business on March 13, RTX Corporation is a Strong Buy with an average share price upside potential of 11%.
In other news, on Friday the company announced that its Raytheon business had completed a $115 million expansion of its missile integration facility in Alabama, which is now expected to increase the facility’s delivery and integration capacity by more than 50%.
The development follows last month’s agreement with the Department of War to expand the production and delivery of Tomahawks, AMRAAM missiles, and other missiles and interceptors.
RTX Corporation is a giant in the global aerospace and defense industry, providing systems and services to commercial, military, and government clients. It operates through three main businesses: Collins Aerospace, Pratt & Whitney, and Raytheon.
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