Truist upgrades Astronics to Buy on ramping MAX production

Truist upgraded Astronics (ATRO) to Buy from Hold with a price target of $49, up from $32. The firm says Astronics has $95,000 of line fit content on the 737MAX with the potential to see total content push to $150,000, depending on airline buyer furnished equipment. The company is a beneficiary of ramping MAX production, the analyst tells investors in a research note. Truist sees Astronics’s MAX annual revenue tracking to 8%-10% of total sales over 2026 and 2027. The fir now has a higher degree of confidence in its margin and growth assumptions.