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UPDATE: Citigroup Raises PT on Rockwell Collins Following In-Line F3Q13 Sales

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In a report published Monday, Citigroup analyst Jason Gursky reiterated a Neutral rating on Rockwell Collins (NYSE: COL), and raised the price target from $68.00 to $74.00.

In the report, Citigroup noted, “COL reported in-line F3Q13 sales of $1.17b but beat EPS expectations by 4c (2%) based on better commercial margins (volumes, better aftermarket & lower R&D expense). Aircraft MRO is pressured by higher retirements, but COL is now performing to plan based on spares & airspace mandates. COL is also outperforming the broader bizjet market based on share gains. Risks persist into FY14 mostly due to sequester, so valuation at this point appears fair. Our PT moves to $74 on higher estimates & a higher market multiple.”

Rockwell Collins closed on Friday at $70.42.

Latest Ratings for COL

DateFirmActionFromTo
Jan 2018Canaccord GenuityMaintainsHoldHold
Jan 2018Wells FargoDowngradesOutperformMarket Perform
Nov 2017Credit SuisseDowngradesOutperformNeutral

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Posted-In: Citigroup Jason GurskyAnalyst Color Price Target Analyst Ratings

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