Craig-Hallum starts Astronics with a Buy, says stock ‘could double’

As previously reported, Craig-Hallum initiated coverage of Astronics (ATRO) with a Buy rating and $60 price target While “not a household name,” Astronics has outsized exposure to aerospace and defense with volume, penetration and new contract tailwinds; potentially double-digit revenue growth and 40%-plus incremental margins; and upward re-rating likelihood, which the firm calls “a myriad of attributes that we believe GARP investors should love. The stock “could double over the next few years,” the analyst tells investors.