TransDigm price target raised to $1,175 from $1,050 at JPMorgan

JPMorgan raised the firm’s price target on TransDigm to $1,175 from $1,050 and keeps a Neutral rating on the shares after meeting with management. The analyst says management emphasized strength across the business. Aftermarket demand is exceptionally strong and with the new aircraft production ramp slipping to the right, TransDigm believes the environment can remain favorable for some time, the analyst tells investors in a research note. The firm says lower 737 production should not be especially meaningful for the company.