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Wednesday, November 04, 2009
General Dynamics Upgraded At Credit Suisse
By Christopher Hinton
MarketWatch Pulse
NEW YORK -- Brokerage firm Credit Suisse on Wednesday upgraded General Dynamics Corp. to outperform from neutral on projected stability in its military businesses and improvements in the business-jet market. "We think aerospace has troughed in sales and margins in Q3, and we see sequential improvement in earnings and orders going forward, with first signs likely from the newly expanded aftermarket business in 2010," said analyst Robert Spingarn, writing in a note on the company's business jet unit, Gulfstream. Credit Suisse raised its price target for General Dynamics stock to $74 from $70. Shares of General Dynamics rose 3.5% in recent trading to $64.72 each.
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