Morgan Stanley downgraded Transdigm Group (NYSE: TDG) from Overweight to Equal Weight. The bank cited valuation concerns for the rating change.
Analysts lowered the price target for the aerospace manufacturer to $1,345 from $1,680. The firm identified more attractive investment opportunities within the commercial aerospace aftermarket.
Morgan Stanley highlighted difficulties in finding large-scale acquisitions to drive inorganic growth. This concern follows Transdigm’s recent withdrawal from the planned purchase of Stellant Systems.