UPDATE: Deutsche Bank Raises TransDigm's PT
According to a research report published this morning, Deutsche Bank has increased TransDigm's (NYSE: TDG) PT from $127 to $135.
In the report, Deutsche Bank commented, " F2Q EPS of $1.65 was well above our/consensus estimates of $1.49/$1.42. The beat originated from stronger sales, with revenue up 39% y/y (+15% organic) compared to our/Street estimates of +30%/+16%. Adj. incremental EBIT margin continued to be very strong at 45%, which we view as impressive in light of unfavorable mix and inclusion of acq which have lower margins. With mgmt's impressive achievements to date largely reflected in the stock's strong outperformance, coupled with 30% premium valuation to peers, we struggle with enough upside to our PT. Maintain Hold."
Deutsche Bank maintains its Hold rating on TransDigm, which is currently trading at $127.27.
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