Zacks Investment Research downgraded shares of Triumph Group Inc. (TGI) from NEUTRAL to UNDERPERFORM on October 23, 2013, with a target price of $66.00.
Ahead of fiscal second quarter 2014 earnings results, we are downgrading our recommendation on Triumph Group Inc. to Underperform from Neutral based on 747-8 woes, stiff competition and the adverse effects of sequestration. The company expects its fiscal year 2014 profit to be impacted by charges primarily associated with the 747-8 program. Other factors that could act as headwinds include cyclicality of the aerospace market, lower demand on the military front and foreign currency fluctuations. Also, the company's liquidity position is not sufficient to reap the benefits of its back-to-back acquisitions made in recent times.
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