Woodward To Shut Down Underperforming China Unit - Woodward (NASDAQ:WWD)

Woodward, Inc. (NASDAQ:WWD) stock fell in Friday premarket trading.The company said it will wind down its China on-highway natural gas truck operation by the fiscal year-end.The update comes after UBS analyst Gavin Parsons reiterated a Buy rating on Woodward. Parsons also raised his price forecast to $378 from $345.The company said the move sharpens focus inside its Industrial segment.Woodward said it will streamline its portfolio around priority markets and longer-run growth.“Winding down the China OH busi ...