KeyBanc Raises Price Target on Triumph Group (TGI), 6 Consecutive Upsides With a Strong Outlook
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Price: $26.01 --0%
Rating Summary:
7 Buy, 12 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
7 Buy, 12 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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KeyBanc is reiterating its Buy rating on shares of Triumph Group (NYSE: TGI) and is raising its price target from $60 to $64.
The firm believes that realization of cost and revenue synergies associated with the Vought acquisition, along with an increase in aircraft production rates will lead to future margin expansion and increased guidance over the next year and a half.
The company has posted better than expected quarterly results for the past six quarters in a row. An analyst at the firm comments, "While we believe TGI is still very much a "show me" story given the magnitude and transforming nature of the Vought acquisition, we believe management continues to effectively retire lingering transactional risk with each passing quarter."
During the company's conference call, management indicated that the mid range from its previous guidance should indicated more towards the low end. The firm notes that its new guidance would suggest FY11 revenue of $3.35-$3.5 billion and EPS of $4.35, up from its previous guidance of $3.2-$3.5 billion and EPS of $4.20.
KeyBanc raised its FY11 and FY12 EPS estimates from $4.21 and $4.68 to $4.30 and $4.93.
For more ratings news on Triumph Group click here and for the rating history of Triumph Group click here.
Shares of Triumph Group closed at $53.84 yesterday.
The firm believes that realization of cost and revenue synergies associated with the Vought acquisition, along with an increase in aircraft production rates will lead to future margin expansion and increased guidance over the next year and a half.
The company has posted better than expected quarterly results for the past six quarters in a row. An analyst at the firm comments, "While we believe TGI is still very much a "show me" story given the magnitude and transforming nature of the Vought acquisition, we believe management continues to effectively retire lingering transactional risk with each passing quarter."
During the company's conference call, management indicated that the mid range from its previous guidance should indicated more towards the low end. The firm notes that its new guidance would suggest FY11 revenue of $3.35-$3.5 billion and EPS of $4.35, up from its previous guidance of $3.2-$3.5 billion and EPS of $4.20.
KeyBanc raised its FY11 and FY12 EPS estimates from $4.21 and $4.68 to $4.30 and $4.93.
For more ratings news on Triumph Group click here and for the rating history of Triumph Group click here.
Shares of Triumph Group closed at $53.84 yesterday.
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