Goldman Sachs has reiterated its Neutral rating on Rockwell Collins Corp. and its $64 price target. In a note to clients, Goldman writes, “We remain Neutral rated on COL shares. While we are encouraged by the strong performance in large commercial OE and RJBJ aftermarket, we continue to have concerns for the remaining end markets. Visibility into a business jet order recovery remains elusive and defense continues to experience delays and a lower level of new starts. We do continue to expect COL shares to grind higher, given leverage to the Aerospace cycle, very strong returns on capital, and the eventual realization of past market share gains. However, we continue to see more upside in other suppliers in our coverage with more favorable end-market mix.” Shares of COL lost 47 cents on Friday to close at $60.51.
GS REMAINS NEUTRAL ON COL SHARES
