Woodward, Inc. (WWD) to Spend $200 Million to Build 300,000-Square-Foot Factory; UBS Maintains Its Buy Rating with $299 PT

With significant hedge fund interest and trending on Reddit, Woodward, Inc. (NASDAQ:WWD) secures a spot on our list of the 10 Best Non-Tech Stocks to Buy According to Reddit.

Gavin Parsons, a UBS analyst, kept his Buy rating on Woodward, Inc. (NASDAQ:WWD) on September 25 with a price target of $299, citing the company’s outlook as being significantly influenced by the robust growth of the China LNG heavy-duty truck market. Parsons emphasized that despite recent market issues, Woodward, Inc. (NASDAQ:WWD)’s revenue projection for the company seems well-positioned and that demand has increased due to LNG’s cost benefits over diesel.

Furthermore, bolstering confidence in Woodward, Inc. (NASDAQ:WWD)’s ability to meet or surpass revenue and EBIT expectations in the short term, the analyst pointed out that Q4 usually represents the peak season for LNG and electric truck sales. Moreover, this follows the company’s announcement on September 16 that it will spend around $200 million to construct a 300,000-square-foot factory for aviation parts in Greer, South Carolina. The facility is expected to start operations in 2027 and generate about 275 jobs.

Woodward, Inc. (NASDAQ:WWD) is a global manufacturer of control system components for the commercial and energy sectors, as well as the aerospace and industrial markets. It is one of the Best Non-Tech Stocks.

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