UPDATE: Goldman Sachs Raises PT to $61 on TRW Automotive Holdings on Share Buyback
Goldman Sachs reiterated its Neutral rating on TRW Automotive Holdings (NYSE: TRW) but raised its price target from $54 to $61.
Goldman Sachs commented, "This morning TRW issued a press release and held a conference call to announce the approval of a $1bn share repurchase program which will be effective as of 4Q12 and be implemented over 24 months. ... We are raising our 2012/2013/2014 EPS estimates by a slightly lower 1%/4%/10% as our previous forecasts already had a $300mn buyback incorporated for 2013."
TRW Automotive Holdings closed at $43.71 on Friday.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.