UPDATE: RBC Capital Upgrades Triumph Group (TGI) to Outperform

(Updated - May 11, 2015 10:03 AM EDT)

RBC Capital upgraded Triumph Group (NYSE: TGI) from Sector Perform to Outperform with a price target of $82 (from $64). Analyst Steven Cahall noted restructuring efforts, as well as good performance and tailwinds.

"TGI is now in transition, with new leadership + a comprehensive review of the portfolio and operations. Performance is also improving and risks are better understood. In our view, the stock is still cheap so this is the ideal backdrop for a turnaround story with plenty of share price upside," said Cahall.

"FY16 will be transitional for TGI as interim CEO (and former CEO) Rick Ill 'raises the sense of urgency' on execution and kicks off a comprehensive review. First and foremost will be improving operations including margins and cash, and we think consistency will be a big focus. The portfolio shape is on the table, and businesses could be combined (or let go). There is probably a heck of a lot to do with the supply chain too, where TGI has recently hired a SVP to spearhead improvements. This also makes TGI an exciting turn-around opportunity with upside to valuation and earnings," added the analyst.

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

Shares of Triumph Group closed at $65.85 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• BRF - Brasil Foods S.A. (BRFS3:BZ) (BRFS) PT Raised to BRL19 at Itau BBA
• Cullinan Oncology Inc. (CGEM) PT Raised to $26 at Jones Trading
• HSBC Upgrades Savills Plc (SVS:LN) to Buy