Deutsche Bank Upgrades TransDigm (TDG) to Buy

November 15, 2016 7:02 AM EST
Get Alerts TDG Hot Sheet
Price: $226.90 -9.87%

Rating Summary:
    14 Buy, 9 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
Trade TDG Now!
Join SI Premium – FREE

Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.

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.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Hot Comments, Upgrades

Related Entities

Deutsche Bank

Add Your Comment