KeyBanc Starts CIRCOR International (CIR) at Sector Weight
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KeyBanc initiated coverage on CIRCOR International (NYSE: CIR) with a Sector Weight rating.
Analyst James Picariello said, "Decrementals during the current oil & gas downturn have been impressive, and we are encouraged by the runway both near and longer term given CIR's profitability profile relative to peers. Based on the stock's current multiple at ~12x EV/EBITDA, we await a better entry point or to see firmer stabilization in Energy, which should showcase CIR's significant earnings leverage opportunity."
Shares of CIRCOR International closed at $56.28 yesterday.
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