Nomura Securities Reiterates a 'Buy' on Goodrich (GR); Raising Estimates and PT

Nomura Securities reiterates a 'Buy' on Goodrich (NYSE: GR), raises price target from $109 to $115.

Nomura analyst, Jason Adams, said, "Goodrich’s 2Q sales and earnings were ahead of expectations and the company raised its underlying FY11 EPS guidance by c.11%. We think the positive earnings momentum can continue into 3Q as we believe the market under-estimates the extent that restocking and maintenance catch-up spending will benefit Goodrich’s commercial aftermarket revenues. We raise our FY11 EPS estimate by 9% to USD 6.02, increase our price target to $115, and reiterate our recommendation."

For more ratings news on Goodrich click here and for the rating history of Goodrich click here.

Shares of Goodrich closed at $98.99 yesterday.

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