Woodward price target raised to $159 from $153 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Woodward to $159 from $153 and keeps a Buy rating on the shares after its Q1 earnings beat and guidance raise. China natural gas truck within the company’s Industrial business drove upside, and while the market is uncertain of its forward volatility, it has substantial long-term potential, the analyst tells investors in a research note. Woodward’s Aerospace segment also grew well into the double digits with a 35% incremental margin, as industry growth, share gains, aftermarket and price all contributed, the firm added.