Precision Castparts Corp.

PCP pitch long Aaron Purcell, Ben Hansen, Yinan Zhao

Thesis

We believe PCP is well positioned to continue to grow through M&A, driven by strong secular tailwinds in the commercial aerospace market. Despite concerns over slowing organic sales growth, we see limited risk of a sharp pullback in deliveries, and PCP's strong cash flow generation supports its capital allocation strategy. Our SOTP price target of $300 implies significant upside from current levels.

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