Triumph Group downgraded to Underweight from Neutral at JPMorgan

JPMorgan analyst Seth Seifman downgraded Triumph Group (TGI) to Underweight from Neutral with a price target of $12, down from $15. The firm cites the company’s high Boeing (BA) exposure and its skepticism about a takeout for the downgrade. Triumph’s cash flow improvement has fallen consistently short of expectations, and this was before the Boeing strike, the analyst tells investors in a research note. JPMorgan says that absent a buyout deal and with estimates likely heading down, Triumph Group shares could trade back to the low double-digits.