Woodward price target raised to $408 from $362 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Woodward (WWD) to $408 from $362 and keeps a Buy rating on the shares. The company’s Q1 earnings were particularly strong both on the top-line and margins, with broad based upside seen across the businesses, the analyst tells investors in a research note. Woodward remains one of the firm’s “top picks” across Aerospace & Defense, given its multi-faceted investment thesis including: a large content gain on the dominant LEAP engine that is only just starting to move into the aftermarket, other market share gains in aerospace, exposure to high rates of demand for new airplanes, exposure to higher defense spending including munitions, and both price and cost levers that drive high incremental margins, the firm added.