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Fly News Breaks for April 30, 2018
MOG.A
Apr 30, 2018 | 07:15 EDT
As reported earlier, SunTrust analyst Michael Ciarmoli upgraded Moog to Buy from Hold and raised his price target to $105 from $96. The analyst cites improving free cash flows and lower aircraft R&D expenditures, along with the unexpected divestiture of the underperforming pitch control unit in the latest quarter. Ciarmoli also points to Moog's discounted valuation of 12.7-times price to free cash flows relative to the peer average of 16.3-times.
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