KeyBanc Raises Price Target on Robbins & Myers (RBN) Following Market Check
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Price: $59.99 --0%
Rating Summary:
1 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 12 | New: 10
Rating Summary:
1 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 12 | New: 10
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KeyBanc is reiterating its Buy rating on shares of Robbins & Myers (NYSE: RBN) and is raising its price target from $50 to $54.
Following market checks, the firm believes that there is upside to its previous estimates,combined with the recent recovery in oil prices. KeyBanc is forecasting RBN will report earnings above current expectations.
An analyst at KeyBanc comments, "Following our detailed analysis of the blowout preventer market, we came away encouraged by T-3's unique position in the market, while forthcoming regulations look to be an incremental driver of blowout preventer refurbishment and recertification opportunities going forward. The addition of T-3 remains a great complement to RBN's legacy business and has been a source of significant value creation."
To go inline with its new model, KeyBanc raised its Q1 and FY12 EPS estimates from $0.66 and $2.95 to $0.70 and $3.05. The firm also imitated its FY13 EPS estimate at $3.45.
For an analyst ratings summary and ratings history on Robbins & Myers click here. For more ratings news on Robbins & Myers click here.
Shares of Robbins & Myers closed at $45.30 yesterday.
Following market checks, the firm believes that there is upside to its previous estimates,combined with the recent recovery in oil prices. KeyBanc is forecasting RBN will report earnings above current expectations.
An analyst at KeyBanc comments, "Following our detailed analysis of the blowout preventer market, we came away encouraged by T-3's unique position in the market, while forthcoming regulations look to be an incremental driver of blowout preventer refurbishment and recertification opportunities going forward. The addition of T-3 remains a great complement to RBN's legacy business and has been a source of significant value creation."
To go inline with its new model, KeyBanc raised its Q1 and FY12 EPS estimates from $0.66 and $2.95 to $0.70 and $3.05. The firm also imitated its FY13 EPS estimate at $3.45.
For an analyst ratings summary and ratings history on Robbins & Myers click here. For more ratings news on Robbins & Myers click here.
Shares of Robbins & Myers closed at $45.30 yesterday.
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