Credit Suisse reduced its rating on Woodward WWD from Outperform to Neutral and lowered its price target from $43 to $39.
Credit Suisse commented, "Slowing organic growth, limited visibility in shorter-cycle energy markets & a premium valuation temper our enthusiasm for WWD shares as we head into 2013. Street est. for FY'13 & FY'14 have fallen 14% on average since June, but the stock has held in resulting in a multiple that is 20% higher now. Our EPS est. fall to the low-end of guidance & below consensus as we moderate our market growth & margin assumptions. We are lowering our FY12/13/14 EPS estimates to $2.20/$2.50/$22.89 (from $2.27/$2.83/$3.33) respectively."
Woodward closed at $37.18 on Monday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in