TransDigm price target lowered to $1,375 from $1,410 at Wells Fargo

Wells Fargo lowered the firm’s price target on TransDigm (TDG) to $1,375 from $1,410 and keeps an Overweight rating on the shares. The firm cut estimates across the aerospace group, as it thinks a global economic slowdown hits both original equipment makers and aftermarket. Wells estimates a modest economic slowdown could reduce aircraft demand by 300 basis points, which translates to a 6% and 10% impact to aftermarket and original equipment sales, respectively.