Woodward Inc falls as Jefferies cuts to 'hold'

Woodward

14/09/2022 15:47

** Aerospace and energy controls manufacturer Woodward Inc's
 WWD.O  shares down 2.9% at $90.89
    ** Jefferies downgrades company's shares to "hold" from
"buy", slashes PT to $90 from $107
    ** Brokerage says shares downgraded as company's industrial
segment lacks organic hold, has supply chain issues and only 50%
of the sector's 2022 headwinds have been abated
    ** Jefferies sees downturn in civil aircraft production,
inability to manage expenses across end-market cycles and
product mix as possible risks to WWD's valuation
    ** 1 of 11 brokerages rate Woodward "buy", 9 "hold" and 1
"sell"; median PT $100 - Refinitiv
    ** As of last close, company's shares down 16.3% so far this
year

 (Reporting by Bansari Mayur Kamdar in Bengaluru)
 ((BansariMayur.Kamdar@thomsonreuters.com))