Jefferies Raises price Target on Harsco Corporation (HSC) Following In-Line 3Q
- Dow, S&P 500 surge to highs; transports set record
- Unusual 11 Mid-Day Movers 12/7: (ANTH) (EMKR) (PLAY) Higher; (SIGM) (OHAI) (FTK) Lower
- Abbott (ABT) Files Complaint to Terminate Alere (ALR) Acquisition
- Western Digital (WDC) Raises Q2 Outlook
- Biotech, Pharma Stocks Weaker Amid Trump Comments on Lower Drug Prices
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
Jefferies reiterated a Buy rating on Harsco Corporation (NYSE: HSC), and raised the price target to $13.00 (from $12.00), following the company's 3Q earnings report. Harsco reported 3Q adjusted operating income of $29m, in line with its preliminary announcement on 10/17/16. Adjusted EPS of $0.14 exceeded consensus estimates of $0.13.
Analyst Bhupender Bohra commented, "HSC 3Q16 results were largely in line with its prelim on 10/17/16. Good operational execution and an improved steel markets in the U.S. and Europe were the drivers. FCF guide was increased while EPS guide was largely reaffirmed at the mid-point. Rail (NA carloads) and Industrial (NA rig count) markets seem to be bottoming with potential improvement in 2017. We believe the recent debt reduction provides multiple capital allocation opportunities."
Shares of Harsco Corporation closed at $9.25 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Wedbush Raises Price Target on Francesca's (FRAN) Following 3Q Report
- Western Digital (WDC) PT Raised to $100 at Brean Capital on Way to $120
- Wedbush Raises Price Target on Capital One Financial (COF) to $90
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesJefferies & Co, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!