Shares Of Woodward Governor Soar On 2Q Earnings

In a note to investors Thursday, Lisnic upgraded the Fort Collins, Colo., company to "Outperform" from "Neutral" and increased his price target to $24 from $15. That price target implies a 60 percent increase from the $15 closing price Wednesday.

He also increased his fiscal 2009 earnings to $1.60 per share from $1.55 per share to incorporate the second quarter results "and stronger growth and profitability expectations" for the company's turbine business, partially offset by lower assumptions on its engine unit.

And Lisnic raised his fiscal 2010 earnings to $1.85 per share from $1.80 per share.

Analysts surveyed by Thomson Reuters expect earnings of $1.70 per share in 2010.

Shares rose $3.40, or 22.7 percent, to $18.40 in morning trading.