Wedbush: PCP Maintains Outperform Rating And Positive PT

Wedbush released a research report on Precision Castparts Corp. PCP announcing the outcome of the management meetings, which highlighted the company's operating upside. In the report Wedbush writes, “Recent management meetings helped to remind us why we continue to be positive on PCP: operational excellence and continued strong fundamentals will continue to drive upside. If markets slow substantially, PCP will be impacted like other firms. However, we believe the greater exposure to the commercial original equipment cycle, the relative balance now in fastener inventory levels, the industry-leading cost structure, new market opportunities and the structures opportunity should drive earnings growth.” Wedbush maintains an Outperform rating and maintains a $175.00 price target on Precision Castparts, which closed yesterday at $156.80.