KeyBanc Capital Markets initiated Astronics ATRO with a Hold rating as growth outlook is offset by low share volume.
KeyBanc Capital Markets said, "While ATRO has a solid business model with leading market share and is in a position to benefit from commercial OE production rate increases and increasing shipset content, we believe the Company is fairly valued at its current levels even when assigning a premium multiple to shares. … We believe applying a premium multiple to ATRO shares is reasonable given the Company's market share and opportunities for further growth, but investors also need to consider the limited trading volumes."
Astronics closed at $28.81 on Thursday.
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