Deutsche Bank downgraded TransDigm (TDG) to Hold from Buy with a price target of $1,348, down from $1,444. The firm thinks TransDigm can continue to deliver excess returns over the long term, but says the stock’s valuation relative to its growth “looks meaningfully less attractive” than GE Aerospace (GE). Deutsche is becoming “slightly more selective” in its aftermarket coverage heading into 2025 as traffic growth decelerates and the upside revision outlook slows for some.
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