- Aerojet Rocketdyne Holdings Inc AJRD has been upgraded to Overweight from Neutral by JPMorgan analyst Seth Seifman.
- The analyst also raised the price target to $49 from $40 (15% upside).
- Seifman mentions that the stock's current valuation is attractive, reflecting Aerojet's visible growth, net cash position, and the potential (eventually) to be acquired.
- According to the analyst, the ongoing proxy war between the CEO and the chairman is an unusual overhang.
- Meanwhile, Seifman noted that Aerojet is worth exploring now.
- Related: Aerojet Rocketdyne Stock Plummets As FTC Sues To Block Lockheed Martin Deal
- Price Action: AJRD shares are trading higher by 6.34% at $42.58 on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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