Woodward price target raised to $151 from $147 at Wells Fargo

Wells Fargo raised the firm’s price target on Woodward to $151 from $147 and keeps an Equal Weight rating on the shares. The company increased fiscal 2024 guidance as it sees another quarter of visibility into China on-highway demand at Industrial, the analyst tells investors in a research note. However, the firm says Woodward’s Industrial margin outperformed in fiscal Q1 on mix and efficiency gains, which is not expected to repeat in Q2.