TransDigm price target lowered to $1,600 from $1,700 at KeyBanc

KeyBanc lowered the firm’s price target on TransDigm (TDG) to $1,600 from $1,700 and keeps an Overweight rating on the shares following quarterly results. The firm cites reduced estimates incorporating a more conservative commercial OEM/aftermarket view. KeyBanc believes the recent pullback is largely overdone and creates an opportunity for long-term growth investors.