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RTX Sees Limited Risks to Aerospace Aftermarket From Higher Fuel Prices, RBC Says

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RTX (RTX) is confident that risks from higher fuel prices to its aerospace aftermarket business are limited, RBC Capital Markets said Friday, noting investor focus remains on the GTF jet engine recovery plan and the outlook for Raytheon.

The investment firm said sentiment around the aerospace aftermarket business is likely an important driver for the stock in the near term, as the company continues to signal potential risk from discretionary spending on modifications and upgrades in its Collins Aerospace unit, although it has not seen changes in airline spending plans.

While the company is positive on the outlook for its GTF engine, RBC said investors are closely watching the recovery plan amid concerns around engine valuations and potential demand destruction.

"We continue to see the Raytheon portfolio as a reason to own the stock," analysts at the brokerage commented, adding that demand for missile and missile defense systems is not entirely reflected in the stock.

RBC has an outperform rating and price target of $230 on RTX.

Price: $176.44, Change: $-0.34, Percent Change: -0.19%

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