UPDATE: Deutsche Bank Raises PT on TransDigm Group to $150
Deutsche Bank has published a research report on TransDigm Group (NYSE: TDG) and has raised the price target from $138 to $150.
In the report, Deutsche Bank wrote, "Yesterday TDG announced they were seeking to amend their credit facility, which in part would allow the company to issue a $400-850M special dividend. As the cash balance has risen at TDG toward $450M by year-end and with net debt-to-EBITDA below 4X, it has been expected that a dividend and/or larger acquisitions would be near-term. However, we think the potential size of the dividend was larger than expected, particularly at the top-end of the potential range."
Deutsche Bank maintained its Hold rating on TransDigm Group, which is currently trading up 1.96 percent from Wednesday's $145.31 closing price.
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