Credit Suisse Raises Price Target on Pall Corp (PLL), Reports Strong Quarter & Raised Guidance

Credit Suisse is maintaining their Outperform rating on shares of Pall Corp (NYSE: PLL) following their 2Q11 earnings, which resulted in an EPS of $0.64 while the firm and street was anticipating $0.56 and $0.57. The firm is raising their price target to $68 from $66 on the company.

The company raised their 2011 EPS guidance range to $2.80-$2.90 from $2.48-$2.63 do to better than expected performance in end markets and higher operating margins. As a result of the current market trends and new guidance, the firm is raising their 2011, 2012, and 2013 EPS estimates to $2.87, $3.22, and $3.58 from $2.65, $2.98, and $3.16.

The firm reports that investors should buy shares of PLL as the end market continues to show strength and improve. They comment that, "we continue to believe that there is a solid probability of a deal in the next year, but stress that is not the sole reason to own PLL shares. While end markets remain strong, particularly in Life Sciences, there are still improvements to be done in both within their manufacturing footprint, as well as cutting SG&A as a percent of sales."

For more ratings news on Pall Corp click here and for the rating history of Pall Corp click here.

Shares of Pall Corp closed at $56.17 yesterday.

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