Woodward initiated with an Outperform at RBC Capital

RBC Capital analyst Ken Herbert initiated coverage of Woodward (WWD) with an Outperform rating and $450 price target Woodward is a leading supplier of control solutions for the aerospace and defense and industrial markets, the analyst tells investors in a research note. The firm sees long-term earnings upside for the company due to the “burgeoning” maintenance, repair, and overhaul activity. The leading edge aviation propulsion and geared turbofan aftermarket is the key source of earnings upside, contends RBC.