Jefferies Raises Price Target on Esterline Technologies (ESL) to $92 Following Strong 4Q

November 11, 2016 8:03 AM EST
Get Alerts ESL Hot Sheet
Price: $93.05 -0.69%

Rating Summary:
    5 Buy, 5 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 21 | Down: 36 | New: 11
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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."

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

Shares of Esterline Tech closed at $78.95 yesterday.



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