Morgan Stanley upgrades Textron, sees big stock upside because of growing electric aircraft market

Published Tue, Jun 29 20218:15 AM EDTUpdated Tue, Jun 29 20211:34 PM EDT

Beechcraft King Air turboprop aircraft are seen on the assembly line at the Textron Aviation Inc. production facility in Wichita, Kansas, on Thursday, June 7, 2018.

Luke Sharett | Bloomberg | Getty Images

Morgan Stanley hiked its price target on industrial conglomerate Textron by more than 77%, citing a recovery in business jets and a burgeoning industry for electric vertical take-off and landing, or eVTOL, aircrafts.