UPDATE: Canaccord Genuity Initiates Coverage on Ducommun on Positive Catalysts Ahead

In a report published Thursday, Canaccord Genuity analyst Ken Herbert initiated coverage on Ducommun (NYSE: DCO) with a Buy rating and $34.00 price target.

In the report, Canaccord Genuity noted, “We are initiating coverage of Ducommun (DCO) with a BUY rating and a $34 price target. As execution continues to improve, confidence in cash flows and debt reduction should increase, serving as positive catalysts. We believe H2/13 represents the bottom for non-A&D sales, which should provide additional upside into 2014.”

Ducommun closed on Wednesday at $27.21.