.png "CPI Aerostructures (NYSE: CVU)")
Canaccord Genuity analyst Kenneth Herbert maintained a Buy rating on CPI Aerostructures (NYSE: CVU) today and set a price target of $12. The company’s shares opened today at $9.30.
Herbert wrote:
“We believe the company is poised for an acceleration in its top-line as several opportunities in the aerostructures, kitting and supply chain, and aerosystems segments expand from the improved defense budget outlook, as well as the company-specific cost leverage. We are maintaining our BUY rating and our $12 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, Spirit AeroSystems, and Rockwell Collins.
CPI Aerostructures has an analyst consensus of Moderate Buy, with a price target consensus of $12.
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Based on CPI Aerostructures’ latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $1.26 million. In comparison, last year the company had a net profit of $765.6K.
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CPI Aerostructures, Inc. engages in the manufacture and supply of structural aircraft parts and aerosystems for fixed wing aircraft and helicopters in both the commercial and defense markets. It provides engineering, program management, supply chain management, and overhaul services.
