Triumph Group upgraded to Neutral from Underweight at JPMorgan

JPMorgan upgraded Triumph Group to Neutral from Underweight with a price target of $17, up from $13. “With a stronger balance sheet and a business focused squarely on systems manufacturing and repairs, Triumph “has made great strides putting the company on a sustainable path,” the analyst tells investors in a research note. However, the firm still sees some risk, including on the 737, where Triumph has $300,000 of content. It updated estimates for the divestiture of the Support business and increased the price target to reflect the impact of the transaction on the balance sheet and higher multiples for stocks with aerospace aftermarket exposure.