UPDATE: Wedbush Downgrades Rockwell Collins To Neutral

According to Wedbush, Rockwell Collins COL is downgraded to Neutral. Wedbush said that it is reducing its rating on Rockwell Collins from OUTPERFORM to NEUTRAL and lowering the price target to $53 from $72. “Our $53 price target for COL is based on the average of a 1.8x sales multiple, a 13.5 EPS multiple, and an 8x EBITDA multiple, all applied to our next 12- month estimates.” Rockwell Collins closed yesterday at $45.86.