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Fly News Breaks for April 16, 2018
TDG
Apr 16, 2018 | 08:54 EDT
SunTrust analyst Michael Ciarmoli raised his price target on TransDigm to $335, saying the company is his "favorite aftermarket idea" in aviation after the 2018 MRO Americas conference. The analyst notes that the sentiment at the gathering was "as positive as ever seen", exceeding the optimism of 2017 while adding to his confidence that "aero aftermarket growth will continue to be a source of strength for exposed suppliers" driven by "above-trend traffic growth, higher levels of fielded equipment, strong provisioning demand, elevated repair work, and military spending on-the-come". Ciarmoli also keeps his Buy rating on TransDigm.