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UPDATE: KeyBanc Upgrades Astronics Corporation to Buy, Names $30 PT Following 4Q12 Results

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D.A. Davidson Sees In-Line Earnings, Impressive Test Systems Margins For Astronics Corporation

In a report published Monday, KeyBanc upgraded its rating on Astronics Corporation (NASDAQ: ATRO) from Hold to Buy, and named a $30.00 price target.

KeyBanc noted, “We are upgrading shares of Astronics Corporation (ATRO-NASDAQ) to BUY from HOLD following the release of 4Q12 results as we have gained additional confidence over the last several quarters in management's ability to fund elevated levels of R&D while sustaining solid margins within the aerospace business and believe the Company's growth prospects, particularly in the bizjet market, offer investors a compelling risk/reward at current levels. Additionally, our concerns around an overly conservative initial outlook for 2013 have been alleviated and the selling pressure from the largest shareholder has abated, allowing us to become more constructive on the Company.”

Astronics Corporation closed on Friday at $24.91.

Latest Ratings for ATRO

DateFirmActionFromTo
Sep 2014DA DavidsonInitiates Coverage onBuy
Aug 2014Canaccord GenuityInitiates Coverage onBuy
Mar 2013Topeka CapitalMaintainsBuy

View More Analyst Ratings for ATRO
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Posted-In: KeyBancAnalyst Color Upgrades Analyst Ratings

 

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