Zacks Investment Research upgraded shares of Triumph Group Inc (TGI) from UNDERPERFORM to NEUTRAL on April 24, 2014, with a target price of $69.00.
We upgraded our recommendation on Triumph Group Inc. to Neutral from Underperform based on the company's robust five-year dividend growth rate, share repurchase program and an encouraging outlook for the aerospace market. A healthy backlog of projects worth $4.67 billion is expected to provide the company a steady revenue stream. The rising commercial aerospace market which will drive aircraft maintenance spending could boost the aftermarket growth cycle. In addition, Triumph Group's cost-containment measures will allow the company to steer through the defense market headwinds. However, cyclicality of the aerospace market, slackness in demand on the military front and foreign currency fluctuations might pose serious challenges to Triumph Group.
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