Deutsche Bank Upgrades TransDigm (TDG) to Buy

November 15, 2016 7:02 AM EST
Get Alerts TDG Hot Sheet
Price: $249.46 -0.11%

Rating Summary:
    12 Buy, 10 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 21 | Down: 36 | New: 11
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Deutsche Bank upgraded TransDigm (NYSE: TDG) from Hold to Buy with a price target of $290. Analyst Myles Walton said a selloff in the stock was an over-reaction.

"TDG reported F4Q & FY16 results that were in line with commentary from October. F4Q sales of $875M matched our $872M as continued good perf in commercial aftermarket & another better than expected Q in defense offset weaker commercial OE with EBITDA as defined of $419M compared in-line with our $422M. We think the market got caught up in the FY17 shortfall to consensus EPS while missing the implied FCF growth in the FY17 forecast, which came in 20% better than our estimate and of the FY17 adjusted net income. Following today's sell-off we are upgrading to Buy with 15% upside to new PT," said Walton.

For an analyst ratings summary and ratings history on TransDigm click here. For more ratings news on TransDigm click here.

Shares of TransDigm closed at $252.94 yesterday.



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