TransDigm price target raised to $1,000 from $980 at BofA

BofA raised the firm’s price target on TransDigm to $1,000 from $980 and keeps a Buy rating on the shares. TransDigm reported another outstanding quarter with total sales up 24.7% y/y, gross margins at 59%, and EBITDA margins at 52.5%, benefiting from the global air traffic recovery, the analyst tells investors in a research note. The firm believes concerns of a slowdown in aftermarket are overdone, and while growth rate may slow, there is still upside in the aftermarket.