Analyst Note
| Burkett Huey, CFA |Wide-moat rated TransDigm Group reported a solid fiscal year-end despite the COVID-19 pandemic, and we are raising our fair value estimate to $538 per share from $467 on a substantial revenue increase in our terminal years. Broadly, we think this better reflects our expectation that the company will continue acquiring companies and creating value by driving operational efficiency. TransDigm posted adjusted earnings per share of $2.89, handily beating CapIQ consensus of $1.95.