Woodward price target raised to $417 from $318 at UBS

UBS raised the firm’s price target on Woodward (WWD) to $417 from $318 and keeps a Buy rating on the shares. Woodward posted strong results with a broad-based guidance raise, reinforcing confidence in higher revenue and margin estimates as aerospace and industrial growth, content gains, pricing, and productivity investments drive sustained margin momentum, the analyst tells investors in a research note. Even with a conservative near-term outlook, earnings are expected to continue surprising to the upside over the long term, UBS argues.