Loar Holdings Inc (LOAR) saw its stock price plummet 5.09% in Monday's intraday trading session, following RBC's decision to lower its price target on the aerospace and defense company.
According to the research note, RBC cut its price target on Loar Holdings from $100 to $92 while maintaining an Outperform rating on the stock. The analysts did not provide specific reasons for the price target reduction.
Despite the stock's plunge on Monday, Loar Holdings is still forecasted to experience substantial earnings growth of 51.8% annually, exceeding the broader U.S. market average. However, the company's revenue growth forecast of 15.2% is slower than the desired high-growth threshold, albeit above market averages.
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