UPDATE: Deutsche Bank Reiterates Hold Rating, Lowers PT on Rockwell Collins
In a report published Monday, Deutsche Bank reiterated its Hold rating on Rockwell Collins (NYSE: COL), but slightly lowered its price target from $56.00 to $55.00.
Deutsche Bank noted, “We're trimming our 1QFY13 estimate from $0.94 to $0.85 and our FY13 full year EPS from $4.45 to $4.34. We've also trimmed our FY14 and FY15 estimate to $4.66 and $5.07 from previous $4.93 and $5.42 (consensus $4.91 and $5.33, respectively). The 1Q move is motivated by recent management commentary while the FY13 trim was based on higher pension costs disclosed in the Q and the FY14/15 and beyond trims were driven by higher development cost amortization, which lowered implied incremental margins. Maintain Hold, TP: $55.”
Rockwell Collins closed on Friday at $57.18.
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