UPDATE: Jefferies Reiterates Buy Rating, Raises PT on Esterline Technologies Corporation Following GAAP EPS Report

In a report published Friday, Jefferies analyst Howard A. Rubel reiterated a Buy rating on Esterline Technologies Corporation ESL, and raised the price target from $84.00 to $92.00. In the report, Jefferies noted, “GAAP EPS from Continuing Operations of $1.23 were below our estimate of $1.55, but the company incurred a goodwill impairment charge of $0.11 and an Export Control-related reserve of $0.31. Ex-Items, EPS was $1.65. The underlining business appears to be in good condition.” Esterline Technologies Corporation closed on Thursday at $80.19.