UPDATE: Auriga Raises PT to $135 on TransDigm

Auriga raises its price target to $135 on Buy-rated TransDigm TDG on revised estimated reflecting traffic and capacity trend strength. Auriga says, "We are increasing our price target on shares of TDG to $135, from $130, which reflects continued strength in traffic and capacity trends, coupled with the inclusion of the AmSafe acquisition which we expect to be accretive in 2012. Moreover, we view the acquisition favorably as it further broadens TransDigm's product breadth, and positions the company as the top producer of aircraft seatbelts and restraints. Our revised price target reflects an 18.5x multiple of our FY13 estimate of $7.30." TDG closed at $114.96 a share yesterday.