** Aerospace and defense major RTX's RTX.N Q4 profit and revenue beat estimates on Tuesday, as demand for its aircraft parts and repair services benefited from airlines flying older, maintenance-intensive planes to cope with a jet shortage
** Median PT of 24 brokerages covering stock is $135.50 - LSEG data
CLEARING THE RUNWAY
** RBC ("outperform," PT: $150) sees limited supply of engine parts driving up prices for co's Pratt and Whitney unit, which produces engines for Airbus' A320neo jets; also expects demand for new engines to boost prices of the unit's Geared Turbofan (GTF) engine
** "We believe the company will continue to see upside as the fleet dynamics support further aftermarket spending on legacy engines," says RBC
** J.P.Morgan ("overweight," PT: $150) says original equipment (OE) growth will be limited to mid-single digits due to Boeing BA.N strike, but organic growth recovery will boost leverage and expand margins
** Morgan Stanley ("equal-weight," PT: $135) expects steady growth in the commercial OE segment through 2025, despite Collins Aerospace, a subsidiary of RTX, experiencing a temporary revenue decline due to lower 737 MAX production
** BofA Global Research ("buy," PO: $145) sees RTX benefiting from strong demand in both commercial aerospace and defense, driving continued growth
(Reporting by Rashika Singh in Bengaluru)
((rashika.singh@thomsonreuters.com))
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