Citi Reiterates Buy on Goodrich

Citi is out with its report today on Goodrich GR, reiterating Buy. In its report, Citi writes, "We are reiterating our Buy Rating and $118 target price on shares of Goodrich after spending two days with the company's CFO on the road meeting with investors. In a nutshell, the longer-term growth profile of the company appears intact (despite recent investor concerns about the pace of global economic growth) given the wave of aging planes that will need increased aftermarket work over the next five years and the planned production rate hikes by both Boeing and Airbus over this same period. Below we present our notes from the two days." Shares of GR closed Wednesday at $85.76.