Get 40% Off
🤑 This hedge fund gained 26.16% in the last month. Get their top stocks with our free stock ideas tool.See stock ideas

TransDigm Analysts Increase Their Forecasts Following Strong Earnings

Published 10/11/2023, 18:18
Updated 10/11/2023, 19:40
© Reuters.  TransDigm Analysts Increase Their Forecasts Following Strong Earnings
TDG
-

Benzinga - by Lisa Levin, Benzinga Editor.

TransDigm Group Incorporated (NYSE: TDG) reported better-than-expected fourth-quarter financial results on Thursday.

The company reported fourth-quarter FY23 sales growth of 23% year-on-year to $1.852 billion, beating the analyst consensus estimate of $1.835 billion. Adjusted EPS of $8.03 beat the consensus estimate of $7.54.

TransDigm expects fiscal 2024 net sales of $7.48 billion-$7.68 billion (consensus $7.40 billion) and adjusted EPS of $31.00-$32.94 (consensus $31.15).

The company also entered into a definitive agreement to acquire the Electron Device Business of Communications & Power Industries, a portfolio company of TJC, L.P., for about $1.385 billion in cash.

TransDigm shares rose 1% to trade at $983.22 on Friday.

These analysts made changes to their price targets on TransDigm following earnings announcement.

  • Susquehanna raised the price target on TransDigm from $850 to $875. Susquehanna analyst Charles Minervino maintained a Neutral rating.
  • Morgan Stanley increased the price target on TransDigm from $1,000 to $1,200 Morgan Stanley analyst Kristine Liwag maintained an Overweight rating.

Latest Ratings for TDG

Feb 2022Morgan StanleyMaintainsOverweight
Jan 2022Truist SecuritiesUpgradesHoldBuy
Nov 2021B of A SecuritiesUpgradesNeutralBuy

View the Latest Analyst Ratings

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.