Deutsche Bank hikes RTX's PT citing engine upgrade

Deutsche Bank raises PT on aerospace and defense giant RTX Corp RTX.N to $240 from $235; reiterates "buy" rating

New PT represents a 14.9% upside to stock's last close

Shares of RTX were maginally up in premarket trading

Brokerage notes RTX's Hot Section Plus (HS+) upgrade option for its PW1100G engine will roughly double time-on-wing, a measure of how long the engine can stay on the wing before needing major maintenance

Says engines with HS+ upgrade would need only one more major overhaul instead of three before reaching 20 years of service life, effectively eliminating two cost-heavy shop visits over the engine’s remaining life

Median PT of 25 brokerages covering the stock is $225 - data compiled by LSEG

As of last close, RTX up 13.9% YTD