Jefferies Raises Price Target on Esterline Technologies (ESL) to $92 Following Strong 4Q
- Record-setting rally pushes on as S&P ends week up 3 percent
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
Jefferies reiterated a Buy rating on Esterline Technologies (NYSE: ESL), and raised the price target to $92.00 (from $87.00), following the company's 4Q earnings report. The company initiated revenue guidance of $2.0-$2.05BB implying 0-3% growth, which is in line with expectations.
Analyst Howard A. Rubel commented, "ESL reported Q4:16 Adj. EPS of $1.96 vs. our est./cons. of $1.62/$1.60. GAAP EPS was $1.75. Better operations accounted for the beat. The company initiated FY17 Adjusted EPS guidance of $4.50-$4.90, which compares to our prior estimate/cons. of $5.30/$5.27. The difference is a higher tax rate (25% vs. our est. of 20%). FY16 Adj. EPS was $4.86."
Shares of Esterline Tech closed at $78.95 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- MKM Partners Raises Price Target on Finisar (FNSR) to $43 Following 2Q
- Oppenheimer Raises Price Target on CarMax (KMX) to $72 Ahead of 3Q
- Jefferies Raises Price Target on NeuroDerm (NDRM) to $42
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesJefferies & Co, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!