Zacks Investment Research upgraded shares of TransDigm Group Incorporated (TDG) from UNDERPERFORM to NEUTRAL on December 20, 2013, with a target price of $162.00.
TransDigm Group is a leading global designer, producer and supplier of highly engineered aircraft components. We have downgraded our recommendation on TransDigm Group to Underperform from Neutral with a target price of $162. The company has made a number of strategic acquisitions and has successfully integrated businesses. Furthermore, its financial performance continues to reflect the ability of its proven operating strategy to consistently create real intrinsic value for shareholders. The company's strong free cash flow and well-planned capital structure will also likely enhance shareholder value. However, a cautious stance is maintained for increased debt level. The uncertain economic and political environment is also a matter of concern.
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