J.P. Morgan Raises PT on Goodrich to $103 (GR)

J.P. Morgan is out with its report today on Goodrich (NYSE: GR), raising its PT from $99 to $103.

In a note to clients, J.P. Morgan writes, "We rate Goodrich Neutral. The stock is trading at 14.4x 2012E EPS, a 17% premium to our coverage universe and in line with the average of Rockwell Collins and Precision Castparts. We are raising our year-end 2011 price target by $4 to $103 to reflect our higher estimates. Our target is based on a multiple of ~16x, which reflects a ~5% discount to our target multiple for PCP, which has grown earnings faster over time."

At the time of posting, shares of GR were trading at $93.23, up 0.71% from Thursday's close.