Curtiss-Wright (CW) PT Raised to $312 at Baird

Baird analyst Peter Arment raised the price target on Curtiss-Wright (NYSE: CW) to $312.00 (from $300.00) while maintaining a Outperform rating.

The analyst commented: "CW reported strong 2Q24 results above Consensus, and raising 2024 top-line and EPS guidance, with mid-teens growth across A&D markets, coupled with HSD growth in commercial nuclear. CW's best-in-class Defense Electronics margins exceeded Street expectations by ~300bps in 2Q24, further supported by HSD growth at commercial nuclear with that business set to double by 2028. Limited margin expansion (0-20bps) contemplated in the 2024 guide includes 40-50bps of margin headwinds tied to IR&D for future high-growth opportunities. We believe CW has significant upside vs. peers when considering a multi-year investment horizon."

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