TDG - TransDigm dips after BofA says aero supplier is fully valued

"Given our new lower estimates and material market appreciation, we now view current valuation as fair. [[TDG]] stock has appreciated 30% since August of 2020 and is trading at 1.86x NTM P/FCF, which is over three standard deviations above TDG’s historical mean," BofA analysts including Ronald Epstein wrote in a research note.Shares are slightly lower, falling 0.4% premarket, after the firm downgraded the stock to Neutral, but raised it's PT to $670 (from $550), implying upside of 9%."In our view, Transdigm management has proven its ability to deftly manage the most profound commercial aerospace downturn in history and far better than we could have anticipated. TDG is a best-in-class aerospace supplier and is well positioned to exit the current crisis with "'substantial firepower.'"Management continues to "closely monitor potential M&A targets" and is starting to see a slight pick-up in activity over the previous quarter." TransDigm recently shelled out almost $1B

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TransDigm dips after BofA says aero supplier is fully valued