TransDigm price target raised to $1,502 from $1,455 at UBS

UBS raised the firm’s price target on TransDigm (TDG) to $1,502 from $1,455 and keeps a Neutral rating on the shares. Flight activity is settling back into a more normal pattern of growth post-Covid leading to slowing aftermarket growth, and UBS says expectations are broadly calibrated for growth in the 10% neighborhood, which is more than enough to continue driving margin expansion and cash flow growth, the analyst tells investors in a research note. The firm expects continued margin expansion and capital deployment, with some lumpiness to both.