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Fly News Breaks for October 11, 2018
ESL, TDG
Oct 11, 2018 | 07:42 EDT
Canaccord analyst Ken Herbert said TransDigm's (TDG) acquisition of Esterline (ESL) is a "game-changer" as management expects it to be accretive within the first full year of ownership. The analyst said as investors appreciate the free cash flow, the stock will work higher. He sees an improvement in EBITDA margins, an opportunity to cut costs, and business opportunities. Herbert reiterated his Buy rating and $385 price target on TransDigm shares.