BA - RTX Corp.: New All-Time High Validates My Bullish Thesis

2024-05-30 08:30:00 ET

Summary

• RTX stock surged to a new high, validating my bullish thesis.
• The robust Q1 release in April justified RTX stock's bottom in late 2023.
• RTX's business segments are expected to remain robust, but growth normalization is anticipated in FY2024.
• Notwithstanding its recent surge, I argue why RTX's valuation and price action suggest the rally isn't done.

RTX Stock Surged To A New High

RTX Corporation ( RTX ) stock has continued its remarkable recovery. This month, RTX reached new all-time highs, underscoring its resilience. It has been an impressive surge for RTX investors as it climbed out of its rut, outperforming the S&P 500 ( SPX ) . I maintained my Buy rating on RTX in my previous March 2024 article, as I assessed that its upward momentum was expected to persist. My bullish thesis has panned out accordingly, given RTX's breakout to a new high, invalidating RTX's bearish thesis convincingly....

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