Barrington Research Starts Mine Safety Appliances (MSA) at Market Perform

Barrington Research initiated coverage on Mine Safety Appliances (NYSE: MSA) with a Market Perform rating.

Analyst Rudolf A. Hokanson said, "We believe the stock deserves an EV/EBITDA multiple of 12x and a P/E of 22x our 2015 estimates. Business conditions have been improving and prospects for improving operations warrant these multiples, in our opinion. Our estimates for 2015 call for EBITDA of $198 million and EPS of $2.84. This provides a range of possible target values of $58 to almost $63. We do believe there is a limited downside to the stock’s valuation and there is a dividend yield over 2% that adds to total return."

For an analyst ratings summary and ratings history on Mine Safety Appliances click here. For more ratings news on Mine Safety Appliances click here.

Shares of Mine Safety Appliances closed at $55.61 yesterday.

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