Deutsche Bank Raises PT And Estimates On Rockwell Collins

Deutsche Bank has published a research report on Rockwell Collins

after the company reported a nicely in-line quarter, allowing Deutsche Bank to raise estimates and price target for 2011. In the report, Deutsche Bank writes "COL reported an in-line Q operationally as the R&D tax credit helped EPS come in ahead (96c vs. our/consensus estimates of 89/87c). Revenue & EBIT was in-line with our estimate, with strength in Commercial margins offset by weakness in Government margins. The company raised its FY11 EPS guidance to $3.85-4.05 (up 10c) vs. DBe/Cons pre-release estimates of $3.90/$3.96. The new guidance assumes a 300bps reduction in full year tax rate from prior guidance (worth ~18c to EPS) offset by higher incentive comp." Deutsche Bank maintains its Hold rating and has raised the price target from $67 to $72. Rockwell Collins closed yesterday at $62.84.