UPDATE: Oppenheimer Downgrades Rockwell Collins (COL) to Perform on Valuation

November 29, 2012 7:37 AM EST
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Price: $91.40 +2.45%

Rating Summary:
    9 Buy, 16 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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(Updated - November 29, 2012 8:10 AM EST)

Oppenheimer downgraded Rockwell Collins (NYSE: COL) from Outperform to Perform.

The firm comments, "We're downgrading COL to Perform from Outperform and removing our $58 PT, which is within a few percent of being achieved. The key catalyst for our downgrade is valuation, which after COL's recent surge—up 21% since late June vs. 10% for peers—reflects more fairly COL's risk/reward moving forward. Looking out a bit, there's much to like about COL, particularly in its Commercial Transport business, where a string of new platform introductions offers the prospect of sustained double-digit growth starting in 2014. Still, we'd rather buy COL when valuation and estimates reflect more reserve with regard to this potential and give more weight to the possibility of near- to medium-term program delays and macro pressures."

For an analyst ratings summary and ratings history on Rockwell Collins click here. For more ratings news on Rockwell Collins click here.

Shares of Rockwell Collins closed at $56.53 yesterday.

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