2024-04-01 08:30:00 ET
Summary
- RTX has continued outperforming the S&P 500 as it recovered its July 2023 levels.
- The worst is likely over for RTX investors as the market regains confidence in the leading aerospace company.
- RTX's well-diversified business model demonstrated its resilience amid last year's challenges. But Wall Street remains lukewarm.
- Growth in commercial aerospace is expected to remain robust and support RTX's rally in the medium term.
- RTX is still not expensive, notwithstanding its remarkable recovery. Consider buying before Wall Street turns more optimistic.
RTX Corporation ( RTX ) investors who have continued to ride RTX's massive battering that led to its early October 2023 lows have been vindicated, as RTX has continued to outperform the S&P 500 ( SPX ) ( SPY ). I last updated RTX investors in December 2023, urging them to add more before RTX potentially surged higher. My bullish thesis has panned out, as RTX has recovered levels last seen in July 2023, before the market sold off in response to the powdered metal issue affecting its Pratt & Whitney engines....
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RTX: Leading Aerospace Company Is Flying High Again