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.
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