UPDATE: Citigroup Reiterates Neutral Rating, Raises PT on Rockwell Collins
In a report published Wednesday, Citigroup reiterated its Neutral rating on Rockwell Collins (NYSE: COL), and slightly raised its price target from $60.00 to $61.00.
Citigroup noted, “COL is positioned to gain market share on new air transport platforms and new bizjets while also benefitting from upside in narrowbody production rate increases. However, COL faces a weak SMID-cabin bizjet market with new competitive pressures in avionics. On the defense side, its relatively high-margin portfolio comprised of electronic components is seeing near-term weakness due to smaller ground forces. Over the long-run, we are more constructive on COL's exposure to airborne electronics and avionics which it offers on a more commercial basis (more attractive to customer). However, in our view these puts/takes are reflected at current levels.”
Rockwell Collins closed on Tuesday at $59.21.
Latest Ratings for COL
|Apr 2016||Goldman Sachs||Maintains||Sell|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.