UPDATE: Jefferies Raises PT on Rockwell Collins Following ARINC Acquisition Announcement

In a report published Monday, Jefferies analyst Howard A. Rubel reiterated a Hold rating on Rockwell Collins COL, and raised the price target from $70.00 to $75.00.

In the report, Jefferies noted, “On Sunday August 11, COL announced that it had reached a definitive agreement to acquire ARINC Incorporated, a portfolio company of The Carlyle Group, and a leader in communications and information solutions for the commercial aviation industry, for $1.39 billion. We figure the deal is modestly accretive to our FY 2014 operating EPS estimate of $5.00.”

Rockwell Collins closed on Friday at $74.42.