11:25 AM EDT, 03/28/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

Our 12-month target price of $112, raised $14, reflects a 16x multiple of projected 2025 EPS. The applied multiple is slightly above TXT's historical forward average, but merited, in our view, by rising demand for military aircraft as well as an improving business jet environment. We lift our 2024 EPS estimate by $0.03 to $6.31 and 2025's by $0.23 to $7.20. We think an improving aftermarket outlook in Aviation also helps TXT's bottom line, given that such work entails wider margins. We see free cash flow rising about 10% per year through 2025, and that should enable TXT to follow through on plans for share buybacks . TXT has a relatively low net debt to capital ratio of just 13%, and we now project debt maturities of less than $400M in each of 2024 and 2025 versus free cash flow of about $1.0 billion per year in each of 2024 and 2025.