Woodward price target raised to $209 from $205 at Truist

Truist raised the firm’s price target on Woodward (WWD) to $209 from $205 and keeps a Buy rating on the shares. The company’s Q2 results topped estimates while the management raised the low end of its prior guidance range, with aero margins tracking above the high end of its prior outlook, the analyst tells investors in a research note. Aero aftermarket revenues will likely take a bit of a breather in the second half on tougher comps and weaker China demand, but defense revenues are finally benefiting from smart weapons, which should be sustained, the firm adds.