TransDigm price target raised to $1,310 from $1,100 at BofA

BofA raised the firm’s price target on TransDigm to $1,310 from $1,100 and keeps a Buy rating on the shares. The firm maintains its view that the aftermarket hasn’t run out of steam and sees upside to TransDigm’s aftermarket business after the company reported its eighth consecutive quarter of double digit year-over-year topline growth and third quarter of greater than 20% year-over-year growth, the analyst tells investors. BofA expects high-teens growth for the segment, which will support EBITDA margins holding above the greater than 51% line set in FY23, the analyst added.