In a report published Tuesday, Bank of America analyst Ronald J. Epstein downgraded the rating on Triumph Group TGI from Neutral to Underperform, but reiterated the $73.00 price target.
In the report, Bank of America noted, “We view TGI largely as a commercial aerospace OE play with some growth opportunities from the commercial aerospace aftermarket. However, TGI's backlog is going through a product rotation which may challenge long-term growth. Execution remains a significant risk for the company.
"The defense downcycle is a headwind as about thirty percent of sales are from military aircraft programs. Additionally, management's long-term growth target may prove to be overly optimistic.”
Triumph Group closed on Monday at $71.62.
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