UPDATE: Jefferies & Company Reiterates Hold Rating, Raises PT on Woodward

In a report published Wednesday, Jefferies & Company reiterated its Hold rating on Woodward (NASDAQ: WWD), and raised its price target from $36.00 to $41.00.

Jefferies noted, “Following FQ1:13 earnings, our EPS estimates for FY13 and FY14 of $2.30 and $2.60 remain unchanged. We are revising our target price from $36 to $41. We continue to favor Woodward's end market exposure and believe the company offers a compelling organic growth profile longer-term. However, valuation relative to peers remains expensive.”

Woodward closed on Tuesday at $39.18.