Canaccord Genuity Reiterates a 'Buy' on Elster Group SE (ELT); Transition Year, But Shares Compelling

May 7, 2012 8:54 AM EDT Send to a Friend
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Price: $20.54 --0%

Rating Summary:
    7 Buy, 8 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 18 | New: 41
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Canaccord Genuity reiterates a 'Buy' on Elster Group SE (NYSE: ELT) price target of $19.00.

Analyst, John Quealy, said, "Given the restructuring underway, 2012 remains a transition year, but recent order momentum (1.3x bk2bl) foreshadows the significant growth opportunity in ’13. While share volatility likely remains given European macro (in addition to shelf), we think the risk/reward stays compelling."

"Our quarterly estimates adjust slightly to account for reported results. F2012E revs/adjusted EPS go to $1.92B/$1.13 from $1.92B/$1.10; F2013E remains at $2.0B/$1.35. We note that our estimates do include any major contract wins (i.e., Europe)."

For an analyst ratings summary and ratings history on Elster Group SE click here. For more ratings news on Elster Group SE click here.

Shares of Elster Group SE closed at $15.05 yesterday.


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