Textron Downgraded to “Hold” at Deutsche Bank (TXT)

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Aircraft maker Textron Inc. ( TXT ) on Thursday caught a big downgrade from analysts at Deutsche Bank.

The firm said it downgraded TXT from "Buy" to "Hold" with a $30 price target. That target suggests a 13% upside to the stock's Wednesday closing price of $26.60.

Deutsche Bank cited a slowdown in the business jet market for the downgrade.

Textron shares fell 61 cents, or -2.3%, in premarket trading Thursday.

The Bottom Line
Shares of Textron ( TXT ) have a .30% dividend yield, based on last night's closing stock price of $26.60. The stock has technical support in the $24 price area. If the shares can firm up, we see overhead resistance around the $28-$29 price levels.

Textron Inc. ( TXT ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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