Shares of TransDigm Group Inc. reached a 52-week high Monday after Credit Suisse upgraded the aircraft parts supplier.

TransDigm shares rose $1.88, or 3.5 percent, to $54.66 at midday. They earlier traded at $55, eclipsing a previous year high of $54.48 set March 30.

Credit Suisse analyst Robert Spingarn raised his rating to "Outperform" from "Neutral" and increased his share price target to $65 from $50.

Spingarn wrote that TransDigm has "superior and more reliable" relative growth than its peers, and that the company should be one of the bigger beneficiaries of a recovery in the market for aircraft parts.