Benchmark starts TAT Technologies at Buy, sees ‘vast’ opportunity to take share

As previously reported, Benchmark initiated coverage of TAT Technologies (TATT) with a Buy rating and $53 price target. TAT’s “extraordinary success” in recent years “has legs,” supported by a growing backlog and deep pipeline of emerging opportunities throughout the aftermarket category for the hybrid aerospace OEM and aftermarket service provider, the analyst tells investors. A “critical relationship” with original equipment maker Honeywell (HON) remains in the early stages of ramping and “provides a vast addressable market to take share from,” the analyst added.