UPDATE: Canaccord Genuity Initiates Coverage on Rockwell Collins on Long-Term Positives, Near-Term Uncertainty

In a report published Thursday, Canaccord Genuity analyst Ken Herbert initiated coverage on

with a Hold rating and $68.00 price target. In the report, Canaccord Genuity noted, “We are initiating coverage of Rockwell Collins (COL) with a HOLD rating and a $68 price target. We believe long term ARINC and the greater commercial exposure will be a positive, but near term softness in business jet and defense markets offset potential positives. Market share gains and strong execution will continue to be potential positive catalysts.” Rockwell Collins closed on Wednesday at $66.53.