UPDATE: Credit Suisse Raises PT on Triumph Group on FQ4 Preview

In a report published Tuesday, Credit Suisse analyst Julie Yates Stewart reiterated an Outperform rating on Triumph Group TGI, and raised the price target from $82.00 to $98.00. In the report, Yates Stewart noted, “We embed the GPECS acquisition in our forecast & make minor model adjustments. Our FY'14 / FY'15 estimates rise to $6.90 / $7.84 from $6.74 / $7.71 and we introduce FY'16 at $8.75, 6% ahead of TGI's recently issued long-term target for $8.25. Our TP rises to $98 as we roll forward valuation to CY'14; reiterate O/P. We are also revising our FY13 EPS estimate to $6.16 (from $6.18). Our FQ4 EPS est. declines $0.04 to $1.65 (from $1.69) on a lower sales forecast, but is ahead of TGI's FQ4 implied guidance of $1.56 and the Street's $1.58. While we expect unusual items (pension, EACs, deal costs), we think investors will use the underlying EPS figure which we expect to beat vs. expectations and implied guidance on better profitability.” Triumph Group closed on Monday at $79.06.