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In a report published Friday, Oppenheimer analyst Yair Reiner downgraded the rating on Triumph Group
TGI from Outperform to Perform, and removed the $85.00 price target.
In the report, Reiner noted, “In recent years, TGI's performance has been driven chiefly by three factors: organic growth from rising OE production rates; margin improvement on stable, mature programs; and the acquisition of good companies at very good prices. We believe all drivers are now showing stress as key programs begin to decline, M&A pricing turns steeper, and TGI is forced to turn its attention to winning new work in an environment of heightened price pressure. We believe TGI will ultimately be successful, but that FY14-FY15 could prove to be a more challenging transitional period than many investors suspect.”
Triumph Group closed on Thursday at $73.95.
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