UPDATE: Jefferies Upgrades Woodward to Buy on Multiple Positive Factors

In a report published Monday, Jefferies analyst Sheila Kahyaoglu upgraded the rating on Woodward WWD from Hold to Buy, and raised the price target from $38.00 to $47.00.

In the report, Jefferies noted, “We are assuming coverage of Woodward and are upgrading the shares to BUY for the following reasons: 1) increased visibility and growth in Commercial Aerospace; 2) we believe energy expectations now reflect reality; 3) Operating margins appear to have reached an inflection point; 4) The current share price implies the Aerospace segment is trading at a 30% discount to peers. Our target price moves to $47 from $38.”

Woodward closed on Friday at $39.15.