Auriga Upgrades Astronics (ATRO) to Buy; Accumulate Shares on Pullback

Auriga upgraded Astronics (NASDAQ: ATRO) from Hold to Buy with a price target of $38.00.

Analyst, Mike Callahan, said, "Shares have pulled back more than 20%, and are currently trading at a 26% discount to our price target. We view the pullback as the entry point we have been waiting for, given our view company fundamentals are amongst the strongest of its peers with multiple organic growth programs, including in-seat power and electronic power distribution products. Moreover, we note the impressive increase in content per unit on developing platforms, from just a midpoint of just $6,000 on legacy airframes to as high as $300,000 on key developing platforms."

For an analyst ratings summary and ratings history on Astronics click here. For more ratings news on Astronics click here.

Shares of Astronics closed at $30.13 yesterday.

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