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Fly News Breaks for February 8, 2017
TDG
Feb 8, 2017 | 08:22 EDT
Canaccord analyst Ken Herbert lowered his price target on TransDigm to $300 from $325 after the company's Q1 report to reflect slightly lower multiples on his revised 2017 estimates. The company provided a breakdown of its defense revenues and provided information on the potential impact of changes in tax policy, noted Herbert, who said the primary headwind would be if interest expense is no longer deductible. Regardless, it would not necessitate a change in their business strategy, said Herbert, who maintained his Buy rating on TransDigm shares.
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