TransDigm price target raised to $1,400 from $1,385 at RBC Capital

RBC Capital analyst Ken Herbert raised the firm’s price target on TransDigm (TDG) to $1,400 from $1,385 and keeps a Sector Perform rating on the shares after its Q3 earnings beat. The results were “strong” with commercial after-market up 11% and rebounding from 6% growth in Q3, the analyst tells investors in a research note. Investors also appreciate the “conservatism” of the company’s in-line guidance as the new CEO Mike Lisman looks to establish another beat/raise setup in his first year, RBC added.