Stifel Starts TAT Technologies (TATT) at Buy

Stifel analyst Jonathan Siegmann initiates coverage on TAT Technologies (NASDAQ: TATT) with a Buy rating and a price target of $44.00.

The analyst comments "TATT has successfully refocused its business on the attractive growth area of aviation MRO services. Growth will benefit from their longterm agreements that are still ramping and supported by a large backlog. Margin expansion will continue driven by better mix, operating leverage, and improved operations. • Attractive opportunities to invest incremental capital in targeted bolt-on acquisitions to expand addressable market. Strong balance sheet (net cash) provides capacity. • Mid-teens cash/earnings growth to support above-market valuation. Elimination of legacy PE ownership overhang was the first positive in investor familiarization process and eventual redomiciliation to the US to be the next natural next step."

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

Shares of TAT Technologies closed at $36.72 yesterday.

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