Truist raised the firm’s price target on Astronics to $17 from $15 and keeps a Hold rating on the shares as part of a broader research note previewing Q2 results for Aerospace and Defense names. Easing recession fears and stable demand trends augur well for the firm’s industrial exposed names but the set-up for commercial aero and defense looks more challenging, the analyst tells investors in a research note. Lofty valuations and strong performance year-to-date could also drive sell-the-news responses, particularly given the lingering supply chain and production rate unknowns, Truist added.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on ATRO: