Goldman Sachs analyst Noah Poponak downgraded General Dynamics (GD) to Sell from Neutral with a price target of $245, down from $283. The firm says Trump administration’s Department of Government Efficiency creates a new risk for General Dynamics. The company’s Technologies segment is among the largest government IT companies at $13B of revenue, which makes reductions to government spending and sizes of federal agencies a concern for the segment, the analyst tells investors in a research note. And in General Dynamics’s Marine segment, industry labor and cost challenges create margin risks, adds Goldman Sachs.
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