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Fly News Breaks for May 24, 2019
May 24, 2019 | 07:15 EDT
SunTrust analyst Michael Ciarmoli raised his price target on RBC Bearings (ROLL) to $137 after its Q4 earnings beat and above-consensus outlook for Q1, saying the declines in its organic industrial revenue growth were offset by strength in the aerospace segment along with backlog growth and record margins. The analyst believes the company can sustain continued growth acceleration this year given the "manageable" risks related to Boeing's (BA) 737 MAX grounding, forecasting up to 100bps in margin expansion during FY20. Ciarmoli also keeps his Hold rating on the shares based on RBC Bearings' "full valuation."
News For ROLL;BA From the Last 2 Days
Nov 24, 2021 | 17:17 EST
Boeing was awarded a $212.63M cost-plus fixed fee and firm-fixed-price modification to an existing delivery order contract to procure six MH47-G renew rotary wing aircraft and eight spare shipsets in support of U.S. Special Operations Command. FY21 procurement; and aircraft procurement, Army funds in the amount of $212.63M are being obligated at the time of award. The majority of the work will be performed in Ridley Park. This delivery order modification is a noncompetitive award and is in accordance with Federal Acquisition Regulation 6.302.1. U.S. Special Operations Command is the contracting activity.