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 2022 | Morgan Stanley | Maintains | Overweight | |
Jan 2022 | Truist Securities | Upgrades | Hold | Buy |
Nov 2021 | B of A Securities | Upgrades | Neutral | Buy |
View the Latest Analyst Ratings
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