Nomura Securities Remains Bullish on Goodrich (GR) Following Comments on Commercial Aftermarket Sales
Tweet
Share
E-mailGet Alerts GR Hot Sheet
Price: $127.48 --0%
Rating Summary:
2 Buy, 13 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
2 Buy, 13 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
Nomura Securities reiterates a 'Buy' on Goodrich (NYSE: GR), PT raised to $109.
Nomura analyst, Jason Adams, said, "We continue to remain bullish on the stock following a comment from management that commercial aftermarket sales are up 14% YTD vs FY guidance of 7-9%. As a result of this, we have raised our commercial aftermarket sales forecasts over the next 4 years from 11% to 13% growth per annum. When we add this to the savings related to the closure of the Ohio landing gear facility, our earnings estimate move up by 5%, driving our PT up from $107 to $109. We view the positive trends seen at Goodrich as read-across to Meggitt, Rolls Royce and Safran and this morning we reiterate the Buy ratings on these names."
For more ratings news on Goodrich click here and for the rating history of Goodrich click here.
Shares of Goodrich closed at $90.77 yesterday.
Nomura analyst, Jason Adams, said, "We continue to remain bullish on the stock following a comment from management that commercial aftermarket sales are up 14% YTD vs FY guidance of 7-9%. As a result of this, we have raised our commercial aftermarket sales forecasts over the next 4 years from 11% to 13% growth per annum. When we add this to the savings related to the closure of the Ohio landing gear facility, our earnings estimate move up by 5%, driving our PT up from $107 to $109. We view the positive trends seen at Goodrich as read-across to Meggitt, Rolls Royce and Safran and this morning we reiterate the Buy ratings on these names."
For more ratings news on Goodrich click here and for the rating history of Goodrich click here.
Shares of Goodrich closed at $90.77 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
- Piper Sandler Reiterates Overweight Rating on KKR (KKR), 'highest conviction name'
- Hydrofarm Holdings Group, Inc. (HYFM) Misses Q2 EPS by 134c
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Nomura, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
