UPDATE: Wedbush Lowers Curtiss-Wright's PT

According to a research report published this morning, Wedbush has lowered Curitss-Wright's

PT from $48 to $44. In the report, Wedbush said, "Curtiss-Wright (CW – OUTPERFORM, $44 PT) posted a messy 1Q 12 of $0.42 (excluding the $0.06 impact in the quarter from the discontinued operations. In spite of the many moving parts, the company has basically kept its 2012 guidance the same. However, the company is now taking on a much greater amount of restructuring in the business (Metal Treatment and Motion Control, primarily) than we had anticipated. We view many of these actions as long overdue, and in the long term should be accretive to earnings. However, barring further acquisitions, we are looking at a lower earnings base for 2012 and 2013." Curtiss-Wright closed yesterday at $35.26.