Woodward price target raised to $97 from $85 at Truist

Truist analyst Michael Ciarmoli raised the firm’s price target on Woodward to $97 from $85 and keeps a Hold rating on the shares. The company posted a major earnings beat on robust demand while margins benefited from operational improvements and pricing, the analyst tells investors in a research note, adding that Woodward continues to recover from supply chain and productivity headwinds. Truist adds that the company’s updated outlook assumes a step back in Industrial revenue and margins, though it also appears that the management has Woodward "moving in the right direction".