KeyBanc Upgrades Curtiss-Wright (CW) to Buy

January 18, 2013 9:42 AM EST
Get Alerts CW Hot Sheet
Price: $95.61 --0%

Rating Summary:
    6 Buy, 6 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 10 | Down: 16 | New: 54
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KeyBanc upgraded Curtiss-Wright (NYSE: CW) from Hold to Buy with a price target of $46.00.

The firm comments, "We have increased our revenue and earnings estimates for 2013 and 2014 due largely to the Company's recent string of acquisitions. For 2013, we are now modeling for revenues of $2.5 billion, up from our prior estimate of $2.3 billion, due primarily to recent acquisitions. On the bottom line, we are now modeling for earnings of $3.16, up from our prior estimate of $3.06. We are introducing 2014 estimates, modeling for revenue and earnings of $2.65 billion and $3.57, respectively. We anticipate that Street estimates will trend higher in the coming months and presently find valuation compelling. CW shares are currently trading at 9.8x our 2014 earnings estimate, below their historic forward P/E multiple of 14.2x and below the KBCM Diversified Industrial Index of 13.2x."

For an analyst ratings summary and ratings history on Curtiss-Wright click here. For more ratings news on Curtiss-Wright click here.

Shares of Curtiss-Wright closed at $34.78 yesterday.

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