Curtiss-Wright Trading Up 4% After Upgrade by Bank of America
In a report released Tuesday, Bank of America analyst Kristine Liwag upgrades Curtiss-Wright (NYSE: CW) to a Buy from Neutral. The price target has also shifted from $54 to $71.
CW has a lot of upside and stands to benefit even more than current price level suggests. Analyst Liwag noted in the report, "Although the stock has appreciated 18% in December 2013 which reflects the company's new strategic initiatives to unlock shareholder value, we believe there is further room for upside at current levels. In our view, CW is strategically positioned to benefit from the commercial aerospace cycle as well as improving industrial outlook."
Bank of America's EPS estimates have also been adjusted to reflect their upgrade, "$3.30 from $3.20 in 2014, to $4.00 from $3.45 in 2015, to $4.60 from $3.70 in 2016, and to $5.20 from $3.85 in 2017"
CW closed Monday $60.46 and is currently up 4.23% at $63.02.
Latest Ratings for CW
|Aug 2016||William Blair||Initiates Coverage on||Market Perform|
|Jun 2016||Deutsche Bank||Maintains||Buy|
|Oct 2015||CL King||Initiates Coverage on||Buy|
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