Woodward (WWD) PT Raised to $345 at UBS

UBS analyst Gavin Parsons raised the price target on Woodward (NASDAQ: WWD) to $345.00 (from $329.00) while maintaining a Buy rating.

The analyst commented, "Years ago Woodward captured significant content increases on the LEAP and GTF current-gen narrowbody engines vs. the prior-gen CFM56 and V2500, and those engines are starting to contribute significantly to Woodward's aftermarket revenue. We estimate a 42% current-gen narrowbody engine rev CAGR through 2030, supporting a 19% total WWD commercial aftermarket CAGR. Through 2040, we estimate 22% and 13% CAGRs, respectively. This is driven by our analysis of the repair and overhaul cycle of each WWD part on these four narrowbody engines."

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