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General Dynamics Upgraded at Credit Suisse (GD)

By Dividend.com Staff
November 4th, 2009

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Defense contractor General Dynamics Corporation (GD) saw its rating and price target boosted on Wednesday by analysts at Credit Suisse.

The analyst upgraded GD to “Outperform” from a previous “Netural,” citing rising stability in the company’s defense programs. Suisse also boosted its price target on the stock to $74 from $70. GD shares had closed at $62.55 on Tuesday.

General Dynamics shares rose $2.20, or +3.5%, in morning trading Wednesday.

The Bottom Line
The company has a dividend yield of 2.43%, based on last night’s closing stock price of $62.55. The stock has technical support in the $58-$60 price area. If the shares can continue to firm up, we see overhead resistance around the $70 price level. We would remain on the sidelines, but we do watch this former recommendation very closely.

General Dynamics Corporation (GD) is not recommended at this time, holding a Dividend.com DARS™ Rating of 0.0 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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Disclaimer: Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. The author is not registered as an investment adviser. The author may or may not hold positions in the securities mentioned in this article or video. The author relies upon the "publisher's exclusion" from the definition of "investment adviser" as provided under Section 202(a)(11) of the Investment Advisers Act of 1940 and corresponding state securities laws.