UPDATE: Imperial Capital Reiterates Outperform Rating, Raises PT on Esterline Technologies Corporation
In a report published Monday, Imperial Capital reiterated its Outperform rating on Esterline Technologies Corporation (NYSE: ESL), and raised its price target from $71.00 to $73.00.
Imperial Capital noted, “We are maintaining our Outperform rating and raising our 12-month price target to $73 from $71 on ESL. Esterline reported better than expected 4Q12 results, and provided initial FY2013 guidance that was ahead of expectations. While 1Q13 results will be weaker than expected, and there is still volatility risk to the earnings, we increasingly believe the company will see better than expected results, and, in our view, there is upside opportunity from a conservative defense outlook.”
Esterline Technologies Corporation closed on Friday at $62.88.
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