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 (NASDAQ: 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.
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