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Fly News Breaks for October 11, 2018
ESL, TDG
Oct 11, 2018 | 08:08 EDT
As reported previously, Baird analyst Peter Arment downgraded TransDigm (TDG) to Neutral from Outperform. The analyst said the Esterline (ESL) deal is a shift in the company's strategy in buying a "fixer-up asset" with significantly below average returns that will take time to improve. He believes it will be an overhang on the stock near-term. Arment maintained his $365 price target on TransDigm shares.
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