Goldman Puts Rockwell Collins on Recommended List
Goldman Sachs starts coverage of Rockwell Collins (COL ) and puts the stock on its recommended list.
Analyst Howard Rubel says the company is a unique franchise at an attractive price. He thinks its military business should benefit from a sustained upturn in defense spending. He believes the company should be able to deliver 14%-17% compounded annual EPS growth over the next 3-5 years.
Rubel sees EPS of $1.20 in FY 02 (Sep.) and $1.40 in FY 03. He believes the company's exposure to the commercial aircraft cycle downturn is appropriately discounted in its shares. He thinks the shares have the potential to appreciate 60%-80% over the next 36 months.
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