Triumph Group downgraded to Neutral from Outperform at Baird

Baird downgraded Triumph Group (TGI) to Neutral from Outperform with a price target of $26, up from $20, after the company reached an agreement to be acquired in an all-cash transaction for $26 per share by private equity firms Warburg Pincus and Berkshire Partners. The firm sees very limited regulatory risks to the deal or with key customers.