Jefferies Remains Sidelined on Rockwell Collins (COL) - PT to $96
Jefferies reiterated a Hold rating on Rockwell Collins (NYSE: COL), and raised the price target to $96.00 (from $94.00), following the company's 2Q.
Analyst Howard Rubel commented, "Our FY16 EPS estimate is lowered to $5.52 from $5.60. Our FY17 EPS estimate of $5.75 is cut by $0.10 due to some gross margin pressure, partly offset by lower R&D. The biggest disappointment was lower Commercial Systems gross margin, which may persist beyond FY17 due to lower Global bizjet volumes and more new OE products."
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Shares of Rockwell Collins closed at $89.12 yesterday.