Michael Ciarmoli, Analyst with KeyBanc Capital Markets, says he is looking for aerospace & defense stocks that have some internal catalyst that should enable them to grow — either management changes or new operating models. He says Triumph Group Inc (TGI) is one such company, and he currently has an “overweight” rating and a $77 price target on the stock.
“Triumph Group has been an underperforming aerostructure company, meaning they manufacture the large-scale components: wings, fuselages, tail sections,” Ciarmoli says.
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But, Ciarmoli says management changes at the executive level are likely to usher in positive changes for Triumph and its investors.
“There’s a significant opportunity at Triumph to unlock value,” Ciarmoli says. “Their CEO recently resigned, so someone new will be coming in, and I think fresh eyes on that operating model could be an opportunity for investors.”
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