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UPDATE: KeyBanc Capital Markets Upgrades TransDigm on Solid Business Model Despite Weaker EPS Outlook

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In a report published Friday, KeyBanc Capital Markets analyst Michael F. Ciarmoli upgraded the rating on TransDigm Group (NYSE: TDG) from Hold to Buy, and named a $170.00 price target

In the report, KeyBanc Capital Markets noted, “We are upgrading shares of TransDigm Group Incorporated (TDG-NYSE) to BUY from HOLD and introducing a $170 price target. The Company reported results yesterday that exceeded Street expectations, but offered an adjusted EPS outlook for FY14 that fell short of the consensus estimate. We had anticipated that the earnings outlook for FY14 would be conservative, perhaps coming in light of expectations due to a slower than expected commercial aftermarket recovery and defense headwinds. Despite the weak outlook, we believe the core TDG value creation business model remains largely intact and still has the capability to produce out-sized investor returns over the long term.”

TransDigm Group closed on Thursday at $145.85.

Posted-In: KeyBanc Capital Markets Michael F. CiarmoliAnalyst Color Upgrades Analyst Ratings


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