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Fly News Breaks for June 5, 2017
CW
Jun 5, 2017 | 06:48 EDT
SunTrust analyst Michael Ciarmoli upgraded Curtiss-Wright to Buy and raised its price target to $112 from $103 saying recent share underperformance has created an attractive entry point. The analyst believes the Westinghouse bankruptcy has weighed on shares but believes the financial impact will be minimal and notes several major E&C companies are in the process of submitting bids to pick up construction of Westinghouse's domestic AP1000 reactors. Ciarmoli expects margin expansion to be driven by volume growth from strong general industrial revenue growth in Q1 and expects 200bps of operating margin expansion over the next two years.
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