Triumph Group rises on lifting 2024 sales forecast

Triumph

07/11/2023 14:28

** Shares of aerospace and defense equipment supplier
Triumph Group Inc  TGI.N  rise 10.24% to $8.72 premarket
    ** Co raises 2024 outlook on continued strong commercial
aftermarket demand
    ** TGI now sees FY 2024 net sales between $1.43 bln and
$1.47 bln, reflecting 10%-13% organic growth, up from prior
range of $1.39 bln to $1.43 bln
     ** Co beat Q2 revenue estimates, reporting $354.1 mln,
compared with analysts' mean of $337.4 mln, as per LSEG data
    ** Two of nine brokerages rate the stock "buy" or higher,
four "hold" and three "sell"; their median PT is $11.50
    ** Up to Monday's close, stock had fallen ~25% YTD

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