RTX - Why Pratt & Whitney's GTF Engine Issues Could Impact RTX Cash Flow Through 2025? Analyst Downgrades Stock | Benzinga
RBC Capital Markets analyst Ken Herbert downgraded RTX Corporation (NYSE: RTX) to Sector Perform, lowering the price target to $82 from $105.
Following the company's update on the impact to the Pratt & Whitney Geared Turbo Fan (GTF) engine fleet arising from the previously disclosed rare condition in powder metal used to manufacture certain engine parts, RTX now anticipates a ~$3 billion FCF impact from 2023 through 2025, with ~80% of this going toward customer concessions.
Herbert cautions of continued risks to the FCF outlook from the execution of the engine repairs and the ...