UPDATE: Deutsche Bank Cuts PT to $62 on Rockwell Collins on More Cautious Outlook

Deutsche Bank reiterates its Hold rating on Rockwell Collins

and reduces its price target from $64 to $62. Deutsche Bank notes, "13 Aerospace/Defense companies participated in our Industrial Conference last week in Chicago. Commercial aero companies, while still optimistic about future growth, were at times more cautious in light of a heightened level of macro uncertainty and global political stalemate. …Rockwell Collins (COL) lowered its FY12 commercial growth expectations on the back of lower sales to Hawker, and struck a noticeably more cautious tone (in our view) for FY13 commercial growth rates." COL closed at $49.07 on Friday.