BUZZ-BofA raises General Dynamics PT on defense growth outlook

Bank of America Corp
General Dynamics Corporation

Bank of America Corp

BAC

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General Dynamics Corporation

GD

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** BofA Global Research raises price target on defense and aerospace major General Dynamics GD.N to $415 from $400; reiterates "buy" rating

** New PT represents an 11% premium to stock's last close

** BofA says the army's $209 million funding increase for GD's Abrams Engineering program suggests about $35 million in additional annual revenue through 2031

** Brokerage adds the Trump administration’s prioritization of U.S. shipbuilding, along with strong momentum in the Columbia-class and Virginia-class submarine programs, points to potential upside in GD's marine segment

** Expects the Middle East conflict to have minimal impact on Gulfstream’s production ramp, as only about 3% of the global business jet fleet is based in the region

** Adds that demand for business jets continues to exceed supply, with further supply-chain stabilization providing potential upside to its 2026 delivery forecast of 165 aircraft

** As of last close, stock up ~11% YTD


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