Market Overview

UPDATE: Topeka Capital Markets Reiterates Buy Rating, Raises PT on Esterline Technologies Corporation

Related ESL
Earnings Scheduled For September 4, 2014
Benzinga's Top Upgrades

In a report published Friday, Topeka Capital Markets reiterated its Buy rating on Esterline Technologies Corporation (NYSE: ESL), and raised its price target from $70.00 to $75.00.

Topeka Capital Markets noted, “Esterline reported 4Q GAAP EPS of $1.97 (up 218%) and well ahead of consensus of $1.60. We believe this outperformance will stop negative sentiment in its tracks, and offer strong support to shares currently trading at just 10.5x our FY13 estimate, and well below its historical valuation range. We are increasing our price target to $75 (from $70), and reiterate our Buy rating.”

Esterline Technologies Corporation closed on Thursday at $60.65.

Latest Ratings for ESL

DateFirmActionFromTo
Sep 2014Credit SuisseMaintainsOutperform
Aug 2014Goldman SachsUpgradesNeutralBuy
Jul 2014Drexel HamiltonInitiates Coverage onBuy

View More Analyst Ratings for ESL
View the Latest Analyst Ratings

Posted-In: Topeka Capital MarketsAnalyst Color Price Target Analyst Ratings

 

Related Articles (ESL)

Around the Web, We're Loving...

Get Benzinga's Newsletters