KeyBanc initiated coverage of TransDigm with an Overweight rating and $1,180 price target. The firm sees a favorable macro backdrop within Aerospace & Defense for both OEM and MRO players, driven by the aging and growing fleet, global air travel recovery, and easing supply constraints. It views TransDigm as well-positioned to capitalize on the favorable environment given its exposure to the multi-year up-cycle, particularly within aftermarket, the analyst tells investors.
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