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Fly News Breaks for November 20, 2019
TDG
Nov 20, 2019 | 08:17 EDT
SunTrust analyst Michael Ciarmoli raised his price target on TransDigm to $590 and kept his Buy rating after its Q4 earnings beat, saying that the company met the pre-announced revenue and earnings while its outlook for FY20 "should satisfy" expectations. The analyst adds that the integration of Esterline remains ahead of plan with EBITDA margins running at over 30% versus the initial low 20% guidance range. Ciarmoli further notes that TransDigm's commercial aero aftermarket revenue growth is expected to be in a Mid-to-High single digit range in FY20.
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