UPDATE: Credit Suisse Reinstates Coverage of TransDigm With Outperform Rating, Maintains $151 PT
Credit Suisse has reinstated coverage of TransDigm Group Inc. (NYSE: TDG) with an Outperform rating, maintaining a price target of $151.
Credit Suisse noted, "We are reinstating coverage with an Outperform rating. Our updated EPS forecasts for FY'13 and FY'14 are $7.29 & $8.23 from $7.98 & $9.13, respectively, and incorporate the higher interest expense from the recent debt raise that funded the special dividend. Also, our FY'13 EPS reflects the latest management commentary for low single-digit growth in Commercial OE, 5-10% growth in Commercial Aftermarket and for Military revenue to be "modestly down." Our TP remains $151."
TransDigm closed at $138 on Wednesday.
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