General Dynamics upgraded to Buy as submarine boom fuels growth outlook
Jefferies upgraded General Dynamics to Buy from Hold and increased its price target to $400, citing strong demand for U.S. Navy submarines and improved shipyard productivity. The firm expects significant earnings growth for the defense contractor, with its Marine Systems business outperforming revenue expectations and a substantial backlog of submarine orders. Investments in shipyard modernization and workforce expansion are set to support increased production of Virginia-class and Columbia-class submarines.
https://www.investing.com/news/stock-market-news/general-dynamics-upgraded-to-buy-as-submarine-boom-fuels-growth-outlook-4737509