Triumph Group upgraded to Outperform from Neutral at Baird

Baird analyst Peter Arment upgraded Triumph Group to Outperform from Neutral with a price target of $20, up from $13. The analyst cites the company’s balance sheet reset tied to a pending divestiture for the upgrade. Triumph’s fiscal 2024 should be a more normalized year for aftermarket, allowing for a multiple at the high end of the historical range, the analyst tells investors in a research note.