Wolfe Research Reaffirms RTX Corp (RTX) Outperform on Pentagon Missile Manufacturing Framework Deal

Wolfe Research has reaffirmed its Outperform rating for RTX Corporation (RTX) with a $235 price target, following a deal between RTX and the Pentagon to boost missile manufacturing. The SM-3IB missile program, previously at risk, is now expected to see tripled production, potentially adding $7-8 billion in revenue to RTX’s Raytheon division. This agreement could lead to a 25% implied growth over the 2025 run-rate and increase the segment’s compound annual growth rate.

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