Benchmark Reiterates Buy Rating on TAT Technologies (TATT) on Expanded Honeywell Contract

Benchmark analyst Ben Klieve reiterated a Buy rating and $66.00 price target on TAT Technologies (NASDAQ: TATT).

The analyst commented, "TAT announced an expanded relationship with its major partner Honeywell, whereby it 1) extends its existing APU MRO license from 2031 to 2036, 2) expands the agreement to make TAT the sole global distributor for spare parts on the 331 200/250 APU, and 3) announced an acquisition of three 131-9A APU’s (the APU built into every Airbus A320). The new parts distribution arrangement is likely not needle-moving, but incrementally helpful and an important feather in TATT’s cap in being an increasingly full-service operator for its customers. The acquisition of the 131 APU’s is a nice win in our view, as it expands TATT’s existing portfolio of ~30 engines that are used on a loan basis for its MRO work – and with an expanded portfolio of engines available for loan, this should effectively expand its capacity for service on APU’s for this major airframe."

For an analyst ratings summary and ratings history on TAT Technologies click here. For more ratings news on TAT Technologies click here.

Shares of TAT Technologies closed at $44.26 yesterday.

You May Also Be Interested In

• AMD (AMD) to offer senior notes in four parts
• Stifel on Wolverine World Wide (WWW): 'We are encouraged by solid results'
• Silver Hammer Completes Field Exploration Program at the Eliza High-Grade Silver Project in Nevada