UPDATE: Jefferies Lowers PT on Woodward on Revised EPS Estimate

In a report published Tuesday, Jefferies analyst Howard A. Rubel reiterated a Hold rating on Woodward WWD, but lowered the price target from $41.00 to $38.00. In the report, Rubel noted, “We are revising our EPS estimate downward to $2.25 from $2.35. With its Q2FY14 EPS results, management reduced the high end of EPS guidance to $2.22-$2.35 from $2.22-$2.44. Nonetheless, we remain on the sidelines until we see further evidence of an end market recovery.” Woodward closed on Monday at $34.13.