Brokerages lift Curtiss-Wright PT on 3-year growth targets

Curtiss-Wright

22/05/2024 14:07

** Stifel lifts aircraft parts maker Curtiss-Wright's 
 CW.N  PT to $310 from $293, a ~9% downside to last close 
    ** Truist securities lifts PT for CW to $270 from $252,
representing a 5% downside to the last close
    ** Co forecasts 2024-2026 organic revenue growth >5% vs.
previous 2021-2023 target of 3%-5%
    ** 105% free cash flow conversion vs. prior target of 110%
    ** Truist says co pointed at nuclear aftermarket, subsea
pumps for oil & gas, and growth initiatives in defense
electronics as growth catalysts at CW's investor day
    ** "We believe the improved growth outlook stems from some
better end markets (commercial nuclear, defense, aerospace),
some slower growth markets (industrial), and the benefits of
management's pivot to growth strategy" - Stifel
    ** Four brokerages rate the stock "strongbuy", one "buy" and
two "hold"; their median PT is $292 - LSEG data
    ** Stock had risen 28% YTD

 (Reporting by Aatreyee Dasgupta)
 ((Aatreyee.Dasgupta@thomsonreuters.com))