Curtiss-Wright price target lowered to $424 from $450 at Citi

Citi lowered the firm’s price target on Curtiss-Wright (CW) to $424 from $450 and keeps a Buy rating on the shares as part of a Q1 preview for the aerospace and defense group. The firm believes defense companies have little exposure to tariffs and it remains constructive on the outlook for global defense spending. Suppliers could see some margin pressure and business jet manufacturers are likely to see some near-term cost pressure given a dependency on imports from Canada and Mexico, the analyst tells investors in a research note. Citi adjusted its estimates accordingly. It moved defense coverage to the top of its list given a positive view on the outlook for global defense spending.