- Baird analyst Peter Arment upgraded Curtiss-Wright Corp. CW to Outperform from Neutral and raised the price target of $157 (implying an upside of 21.8%) from $134.
- Arment noted that the company's recovery in the second half of 2021 remains on track coupled with the new $400 million buyback authorization that is increasing the firm's EPS estimates and provides confidence in the current free cash flow generation entering 2022.
- Curtiss-Wright is tracking for a continued strong performance from the recovery of commercial markets in the 2H21 with stability in its defense operations, the analyst says, adding that the stock is being undervalued at current valuation levels.
- Also Read: Curtiss-Wright Bags Contract From Raytheon For MOSA-Based Processing & Networking Modules
- Price Action: CW shares are trading higher by 2.95% at $129.13 on the last check Wednesday.
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