An image of some coins and die
Markets

General Dynamics Downgraded to “Neutral” at Goldman Sachs (GD)

Defense contractor General Dynamics Corporation ( GD

) saw its rating cut on Monday by analysts at Goldman Sachs.

The firm lowered its rating on GD to "Neutral" from "Buy." The move was a valuation call, as Goldman noted a more balanced risk/reward given current conditions.

Goldman left its $87 price target on the stock unchanged, however.

General Dynamics shares, which had closed at $70.50 on Friday, rose $1.90, or +2.7%, in premarket trading Monday.

The Bottom Line

We recently removed shares of GD from our recommended list, when the stock was trading at $74.96. The stock has technical support in the $65 price area. If the shares can firm up, we see overhead resistance around the $75-$77 price levels. We would remain on the sidelines for now.

General Dynamics Corporation ( GD ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 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 Nasdaq, Inc.

Created by Dividend.com


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

In This Story

GD

Other Topics

Stocks