TransDigm reiterated Buy at Deutsche Bank after easy hearing

|About: TransDigm Group Incorporated (TDG)|By:, SA News Editor

TransDigm (TDG +1.3%) is reiterated with a Buy rating and $305 price target at Deutsche Bank, which believes that last week’s hearing by the House Armed Services Committee indicates that Congress will not create greater regulatory oversight to the detriment of TDG’s long-term business.

The firm believes a hearing last week on the defense contract audit process clearly displayed concerns that the auditing process was becoming unwieldy.

"We think investors will be well served to consider the direction that Congress is actually heading on acquisition policy and not the direction that short reports are currently suggesting," the firm writes.