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Investing.com - Stifel raised its price target on Curtiss-Wright (NYSE:CW) to $502.00 from $457.00 on Monday, while maintaining a Hold rating on the engineering company’s stock. The stock, which has surged over 71% in the past six months, is currently trading near its 52-week high of $575.07, suggesting significant momentum. According to InvestingPro analysis, the company appears to be trading above its Fair Value.
The research firm cited Curtiss-Wright’s position as an innovative engineering company that provides high-tech, critical-function products, systems and services to what it considers structurally growing markets.
Stifel believes the company is well positioned to outgrow markets through new product development in sectors that are stable to growing.
The firm specifically highlighted "multi-decade nuclear opportunities" that are likely to significantly add to the company’s growth trajectory.
Stifel also noted that Curtiss-Wright is a "very strong FCF generator," which provides ample capacity for the company to pursue inorganic growth opportunities.
In other recent news, Curtiss-Wright Corporation has been selected by Bell Textron Inc. to supply encrypted flight data recorder technology for the United States Army’s MV-75 FLRAA next-generation tiltrotor program. This contract includes the provision of a combined cockpit voice recorder and flight data recorder with encryption capabilities. Additionally, Curtiss-Wright announced a $200 million expansion of its 2025 share repurchase program, which is expected to result in record annual share repurchases exceeding $450 million this year. The expanded buyback will be implemented immediately through a 10b5-1 program, while the company continues its existing $60 million share repurchase program initiated in January 2025.
In other developments, Radiance Technologies appointed Tony Moraco, former CEO of Science Applications International Corporation, to its Board of Directors. Moraco previously led SAIC through significant growth and strategic acquisitions. These recent developments reflect ongoing strategic initiatives and leadership changes within these companies.
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