GenCorp signs master agreement with Arrow Electronics Aerojet, a GenCorp company, announced the signing of a multi-year master agreement with Arrow Electronics. The agreement covers procurement of approximately 65% of Aerojet's electronic component requirements. Arrow Electronics is a global provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions with 2011 sales of $21.4B. Arrow Zeus, its broadline division, is a provider of components and value-added services with a dedicated sales team that is focused exclusively on servicing the needs of the aerospace and defense customer base.
GenCorp upgraded to Buy from Hold at KeyBanc KeyBanc upgraded GenCorp to Buy with a $20 price target given favorable exposure to defense and space markets and the focus on improving internal return metrics.