UPDATE: Bank Of America Downgrades Triumph Group On Increased Downside Risk

In a report published Tuesday, Bank of America analyst Ronald J. Epstein downgraded the rating on

from Neutral to Underperform, but reiterated the $73.00 price target. In the report, Bank of America noted, “We view TGI largely as a commercial aerospace OE play with some growth opportunities from the commercial aerospace aftermarket. However, TGI's backlog is going through a product rotation which may challenge long-term growth. Execution remains a significant risk for the company. "The defense downcycle is a headwind as about thirty percent of sales are from military aircraft programs. Additionally, management's long-term growth target may prove to be overly optimistic.” Triumph Group closed on Monday at $71.62.