Jefferies Increases PT on TRW Automotive From $69.00 to $71.00 And Reiterate A Buy Rating (TRW)

In a recent report, Jefferies has increased the price target on TRW Automotive TRW from $69.00 to $71.00 and reiterate a buy rating on the company after upside 1Q. In the report, Jefferies said, "TRW reported 1Q EPS of $2.21 vs consensus of $1.76 (26% upside). The shares opened strong but faded, which we attribute to (1) a weak tape from poor jobs data, (2) FX being the majority of the revenue guidance bump, and (3) conservative commentary on the call about the potential for comparable margin expansion for the rest of 2011." TRW Automotive closed at $56.15 yesterday.