General Dynamics shares jumped +2% Monday, following an upgrade by Goldman Sachs analysts.
Analysts at Goldman Sachs raised their rating on the aerospace & defense company's stock to buy from neutral. A decline in General Dynamics stock’s valuation relative to its peers, and strengthening margins on its Gulfstream private jet line were cited as factors behind the analysts’ optimism.
The analysts reiterated their per-share price target of $204 – which represents a 23% upside from the stock's previous closing price of $166.37.