Wedbush Upgrades Goodrich (GR) to Outperform Based on Better Aftermarket Performance
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Price: $127.48 --0%
Rating Summary:
2 Buy, 13 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
Rating Summary:
2 Buy, 13 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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Wedbush upgraded Goodrich (NYSE: GR) frm Neutral to Outperform. PT increased from $92 to $100.
Wedbush analyst says, "Our upgrade is based largely on what we see as outperformance in the commercial aftermarket. Our latest proprietary research gives us confidence that the commercial aftermarket recovery is not likely to be derailed by rising fuel prices. Clearly, rising oil prices and macro concerns have trimmed airlines 2011 capacity growth, but we now believe Goodrich’s 2011 aftermarket growth will be in the 13% range, as compared to company guidance of up 8%...Our full year 2011 and 2012 EPS estimates are increasing to $5.55 and $6.40, respectively. We believe the 10% relative underperformance in 2011 is not justified."
For more ratings news on Goodrich click here and for the rating history of Goodrich click here.
Shares of Goodrich closed at $84.23 yesterday.
Wedbush analyst says, "Our upgrade is based largely on what we see as outperformance in the commercial aftermarket. Our latest proprietary research gives us confidence that the commercial aftermarket recovery is not likely to be derailed by rising fuel prices. Clearly, rising oil prices and macro concerns have trimmed airlines 2011 capacity growth, but we now believe Goodrich’s 2011 aftermarket growth will be in the 13% range, as compared to company guidance of up 8%...Our full year 2011 and 2012 EPS estimates are increasing to $5.55 and $6.40, respectively. We believe the 10% relative underperformance in 2011 is not justified."
For more ratings news on Goodrich click here and for the rating history of Goodrich click here.
Shares of Goodrich closed at $84.23 yesterday.
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