TransDigm Group Analysts Boost Their Forecasts After Upbeat Results
Portfolio Pulse from Avi Kapoor
TransDigm Group Incorporated (NYSE:TDG) reported Q2 earnings and sales above market expectations, leading to an upward revision of its FY24 outlook. Adjusted earnings were $7.99 per share against an expected $7.42, with sales of $1.919 billion surpassing estimates of $1.880 billion. The new FY24 sales forecast is between $7.68 billion and $7.80 billion, with adjusted EPS projected at $31.75 to $33.09. Following the announcement, TDG shares rose by 0.7%. Analysts from Baird and Susquehanna revised their price targets upwards, reflecting optimism about the company's performance.
May 08, 2024 | 12:57 pm
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TransDigm Group reported higher-than-expected Q2 earnings and sales, leading to an increased FY24 outlook. Shares increased by 0.7% following the announcement.
The positive earnings and sales report, coupled with an upward revision in the FY24 outlook, indicates strong company performance and future growth potential. This has led to a positive reaction in the stock market, with shares rising. Analysts' upward revision of price targets further supports the positive outlook for TDG, suggesting a likely continued upward trajectory in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100