Open Question
GD has been hot lately. Two upgrades recently ... Goldman last week raised to
buy with $54 price target ... BofA/Merrill upgraded it today with a $61 price
target.
How far can this go? Should I take profits sooner rather than later?
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It surprises me just how much this sector has rebounded from the March lows. In
the case of GD, I think the stock is trading more on the rebound potential in
Gulfstream than any of the defense assets.
And in my opinion, that trade dries up soon... so I'd rather wait to buy General
Dynamics in the mid-$40's.
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