Wedbush Downgrades Rockwell Collins (COL) to Neutral; Greater N-T Business Jet Risk Although L-T Positives Remain

Wedbush downgraded Rockwell Collins (NYSE: COL) from Outperform to Neutral, price target lowered from $72 to $53.

Wedbush analyst says, "Since we initiated coverage on COL with an OUTPERFORM rating in June, our outlook, specifically on the business jet sector, has changed. While we are not yet convinced we are heading into a double-dip recession, we believe near-term risks associated with the business jet outlook and the ongoing uncertainty in the company’s Government segment may keep the stock in check."

"We continue to believe COL represents one of the best managed names in the A&D sector, but we believe the anticipated slower ramp now in the business jet segment, coupled with the continued defense overhang, may mute the shares near-term."

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

Shares of Rockwell Collins closed at $45.86 yesterday.

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