Citi recommends investing in this aircraft manufacturer with more than 30% growth potential

The S&P 500 index has been rising strongly this year, perhaps somewhat surprisingly, making it increasingly difficult for many investors to pick stocks that they believe are close to a fair price. So Citibank analysts have come to the rescue, recommending stocks of relatively little-known companies to buy, reports CNBC North.

According to Citibank, aircraft maker Textron $TXT should see a rebound from its below-average performance so far in 2023. The bank initiated coverage on the stock with a "buy" recommendation, and its $90 price target suggests the stock could rise a solid 30%+ over the next 12 months.

"Citi is optimistic about revenue and earnings predictability given recent order growth, particularly in the Aviation and Bell segments," analyst Jason Gursky wrote in a note Wednesday.

Gursky said Textron's rating already includes the "recessionary environment" and reduced demand for corporate jets. The analyst added that post-pandemic growth in private travel and limited industry…