Astronics price target raised to $23 from $17 at Truist

Truist raised the firm’s price target on Astronics (ATRO) to $23 from $17 and keeps a Hold rating on the shares after its Q4 earnings. The company’s results beat on the top and bottom line and the aerospace segment put up the highest operating margins in over 10 years despite ongoing aircraft production related challenges, the analyst tells investors in a research note. Astronics’ Test segment remains challenged however and continued to undergo restructuring and appears to be highly dependent on the Army TS-4549T program to drive growth, Truist adds.