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Esterline shares could rise 30 per cent: Barron's
[NEW YORK] Shares of airplane parts maker Esterline Technologies Corp could rise 30 per cent as the company benefits from a major restructuring launched in 2013, weekly financial newspaper Barron's reported in its April 27 edition.
Investors could start to see the benefits next year, according to the report.
Under the restructuring, Chief Executive Officer Curtis Reusser has closed plants and introduced better manufacturing, supply chain and purchasing practices, Barron's said.
Eagle Value Partners general partner Meryl Witmer, an investor in Esterline, told Barron's she values the shares at US$150.
Esterline's shares closed down 0.4 per cent at US$113.58 on the New York Stock Exchange on Friday.