Triumph Group (TGI) Receives a Hold from Canaccord Genuity

By Ryan Adsit

Canaccord Genuity analyst Kenneth Herbert maintained a Hold rating on Triumph Group (NYSE: TGI) today and set a price target of $26. The company’s shares opened today at $23.55.

Herbert observed:

“We appreciate the incremental detail provided by management and the de-risking efforts now seem to have hit an inflection point. There is still development risk on potential military programs, as well as ongoing Global 7500 risk, but we believe the positive stock move is justified considering the better visibility on the FCF and the recent weakness. We are maintaining our HOLD rating and our $26 price target.”

According to TipRanks.com, Herbert is a 5-star analyst with an average return of 12.7% and a 64.9% success rate. Herbert covers the Consumer Goods sector, focusing on stocks such as Transdigm Group Inc, CPI Aerostructures, and Spirit AeroSystems.

The word on The Street in general, suggests a Hold analyst consensus rating for Triumph Group with a $24.17 average price target, representing a 2.6% upside. In a report released today, Cowen & Co. also maintained a Hold rating on the stock with a $20 price target.

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Based on Triumph Group’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $305 million. In comparison, last year the company had a GAAP net loss of $1.93 million.

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Triumph Group, Inc. engages in the design, engineering, manufacture, repair, overhaul, and distribution of aircraft structures, components, accessories, subassemblies, and systems. It operates through the following segments: Integrated Systems, Aerospace Structures, and Product Support.