BUZZ-BTIG cuts General Dynamics rating on persisting supply chain woes

Reuters
02-13
BUZZ-BTIG cuts General Dynamics rating on persisting supply chain woes

** Defense conglomerate General Dynamics' shares GD.N fall 0.7% to $249.60 premarket

** BTIG downgrades rating to "neutral" from "buy", reiterates PT of $345

** Says regulatory hurdles and supply chain woes unlikely to recede, and further weigh on aerospace segment numbers

** "The weaker margin outlook coupled with greater working capital demands trickles down to weaker free cash flow performance," BTIG adds

** 13 brokerages rate the stock "buy" or higher, 11 "hold" and 1 "sell"; their median PT is $285 - LSEG compiled data

** In 2024, stock had risen 1.5%

(Reporting by Aatreyee Dasgupta)

((Aatreyee.Dasgupta@thomsonreuters.com))

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