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Fly News Breaks for February 27, 2018
ATRO
Feb 27, 2018 | 09:21 EDT
SunTrust analyst Michael Ciarmoli lowered his price target on Astronics to $39 after its "disappointing" Q4 earnings report, noting that a miss on top and bottom lines and affirmed FY18 outlook suggest that operating margins should trend lower and negate the positive tax impact. Ciarmoli keeps his Hold rating on Astronics, adding that its valuation discount of FY19 PE of 18.4-times relative to peer average of 21-times is warranted due to margin headwinds and FY18 risks.
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