In a report published Monday, D.A. Davidson & Co. reiterated its Buy rating on TransDigm Group TDG, and raised its price target from $150.00 to $165.00.
D.A. Davidson noted, “We continued to see companies post a mixed bag of results in aftermarket last quarter, but with a more positive outlook. We believe companies will continue to experience somewhat depressed aftermarket spending in early to mid-2013 with a snap-back in store for the end of 2013 or the beginning of 2014. We believe that depressed aftermarket in the near term is already imbedded in the shares of aftermarket levered stocks. As such, we expect little impact from low reported organic growth rates in Q4 and Q1.”
TransDigm Group closed on Friday at $137.51.
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