Market Overview

UPDATE: Deutsche Bank Raises PT to $32 on Curtiss-Wright Following Acquisition

Related CW
Is Rolls Royce (RYCEY) Set to Miss Earnings This Season?
Earnings Scheduled For July 30, 2014

Deutsche Bank reiterated its Hold rating on Curtiss-Wright (NYSE: CW) but raised its price target from $32.00 to $38.00.

Deutsche Bank noted, "We are raising our target [to $38 from $32] and 2013 revenue growth estimate for CW on the back of this morning's announcement that CW has acquired Germany-based Phönix Group for $106M in cash. Our '13 EPS estimate of $3.15 [consensus: $3.00] is unchanged as modest underlying accretion [~2c] is likely offset by acquisition-related costs and incremental interest expense [deal expected to close in 1Q13]. Maintain Hold due to near-term accretion uncertainty/execution risk."

Curtiss-Wright closed at $34.07 on Friday.

Posted-In: Deutsche BankAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (CW)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters