Jefferies downgraded Triumph Group (NYSE: TGI) from Buy to Hold with a price target of $37.00.

Analyst Sheila Kahyaoglu believes the company will spend a large sum on development and production of the Global 7000 in FY 2018. She also comments that her outlook is less optimistic on the Global 7000 production over time and therefore, with FY 2018 as a FCF transition year, she downgrades the stock.

FY 2018 EPS estimate rises from $3.32 to $3.63 and FY 2019 EPS estimate rises from $3.92 to $3.93.

For an analyst ratings summary and ratings history on Triumph Group click here. For more ratings news on Triumph Group click here.

Shares of Triumph Group closed at $34.20 Friday.