Astronics (ATRO) PT Lowered to $20 at Truist Securities

Truist Securities analyst Michael Ciarmoli lowered the price target on Astronics (NASDAQ: ATRO) to $20.00 (from $22.00) while maintaining a Hold rating.

The analyst commented: "Mgmt is guiding to 3Q24 revs to be in the range of $195-$205M with refinancing expenses in the $7.5M range. We are lowering our estimates to reflect ongoing aircraft delivery pressures and strike risk at Boeing. Given the short cycle nature of ATRO's commercial aero offerings we do see potential risk of inventory growth and FCF pressure."

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