BUZZ-BTIG cuts General Dynamics rating on persisting supply chain woes

Defense conglomerate General Dynamics' shares GD.N fall 0.7% to $249.60 premarket

BTIG downgrades rating to "neutral" from "buy", reiterates PT of $345

Says regulatory hurdles and supply chain woes unlikely to recede, and further weigh on aerospace segment numbers

"The weaker margin outlook coupled with greater working capital demands trickles down to weaker free cash flow performance," BTIG adds

13 brokerages rate the stock "buy" or higher, 11 "hold" and 1 "sell"; their median PT is $285 - LSEG compiled data

In 2024, stock had risen 1.5%