UPDATE: Topeka Capital Markets Initiates Astronics at Buy on Revenue Outlook

Topeka Capital Markets initiated coverage on Astronics

with a Buy rating and a $35 price target. Topeka Capital Markets commented, "We are initiating coverage of Astronics Corporation with a Buy rating and a $35 price target. We anticipate Astronics' in-seat power business will continue to drive results in the short- term, while its Business Jet Electronic Power Distribution System (EPDS) takes root over the long-term. In addition, we note the impressive increase in content-per-unit on developing platforms, and look for record results in 2012 and 2013." Astronics closed at $30.32 on Wednesday.