Market Overview

UPDATE: Credit Suisse Downgrades Woodward to Neutral on Slower Growth and Valuation

Related WWD
UPDATE: D.A. Davidson & Co. Reiterates On Woodward On Higher Estimates
Can the Rally in Woodward (WWD) Shares Continue? - Tale of the Tape

Credit Suisse reduced its rating on Woodward (NASDAQ: 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.

Posted-In: Credit SuisseAnalyst Color Downgrades Intraday Update Analyst Ratings

 

Most Popular

Related Articles (WWD)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free