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TransDigm downgraded to Sector Perform from Outperform at RBC Capital

RBC Capital downgraded TransDigm (TDG) to Sector Perform from Outperform with a price target of $1,385, down from $1,550. The firm sees a continued period of uncertainty for the stock. The “law of large numbers” has caught up with TransDigm, the analyst tells investors in a research note. RBC believes the company’s outlook for large acquisitions, a key source of upside historically, is now limited. After-market fundamentals remain robust but TransDigm’s recent underperformance is a concern, the firm contends.

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