Benchmark upgrades RTX on Trump defense policy upside, engine market strength

Benchmark upgrades rating of aerospace and defense giant RTX RTX.N to "buy" from "neutral"

Sets price target of $140, representing a 7.1% upside to the stock's last close

Says U.S. President Donald Trump’s Peace Through Strength foreign policy is positive for RTX's aerospace and defense order flow as part of $142 billion arms package with Saudi Arabia

Notes improvement in jet engine supply chains, Pratt & Whitney's pricing and volumes

Says typically there is positive momentum for aerospace industry when in a recovery cycle, ahead of Paris Air Show in June

Five brokerages rate the stock "strongbuy", 11 "buy" and 10 "hold"; their median PT is $136 - LSEG compiled data

Including session moves, stock had risen 13.3% YTD