Triumph Group upgraded to Overweight from Underweight at Barclays (earlier)

Barclays analyst David Strauss before the market opened double upgraded Triumph Group to Overweight from Underweight with a price target of $20, up from $13. The company’s Product Support Business divestiture will drive faster than expected deleveraging, and its higher quality portfolio could warrant a higher share valuation, the analyst tells investors in a research note. Shares of Triumph are up 2% to $15.69 in midday trading following the double upgrade.