FreeRTX3 min read
RTX: backlog gives multi-year visibility
RTX
Delayed
The thesis
Build-rate normalisation flows straight to margins at this point in the cycle.
Book-to-bill above one for several quarters is the tell here.
What I'm watching
- build-rate guidance
- build-rate guidance
- A clean move through the level I flag below
Positioning
Long on RTX, 3-18 months horizon. Conviction: High. Cycle timing is the main risk — I'm patient.
Opinion, not investment advice. The author may or may not hold positions discussed.
Opinion. The author may or may not hold positions discussed. Not advice. Not a financial promotion approved under FSMA s.21. Quote data is delayed. Past performance is not a reliable indicator of future results.
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