UPDATE: Topeka Capital Markets Initiates Esterline Technologies at Buy on Pipeline Strength
Topeka Capital Markets initiated coverage on Esterline Technologies (NYSE: ESL) with a Buy rating and a price target of $70 a share.
Topeka Capital Markets noted, "With a strategy around developing a leadership position in niche markets, we believe Esterline Technologies is well-positioned to benefit from higher commercial activity given its high degree of proprietary sole-source content on nearly every aircraft in operation today. Looking forward to 2013, we look for higher OEM production and a more stable operating environment of several key programs to bolster sales and margins. As such, we are initiating coverage of ESL with a Buy rating and $70 price target.:
Esterline Technologies closed at $56.64 on Wednesday.
Latest Ratings for ESL
|Sep 2014||Credit Suisse||Maintains||Outperform|
|Aug 2014||Goldman Sachs||Upgrades||Neutral||Buy|
|Jul 2014||Drexel Hamilton||Initiates Coverage on||Buy|
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