Truist raised the firm’s price target on Woodward to $143 from $136 and keeps a Hold rating on the shares after its Q1 earnings beat and guidance raise. Results handily beat consensus on the back of robust demand for on-highway natural gas trucks in China, the analyst tells investors in a research note. Truist adds however that while the guidance “embeds conservatism”, the firm continues to struggle with valuation against an unpredictable natural gas market.
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