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Piper Jaffray Raises Price Target on RPM International (RPM) Following Investor Meetings

July 2, 2015 7:00 AM EDT
Get Alerts RPM Hot Sheet
Price: $115.56 --0%

Rating Summary:
    10 Buy, 10 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 8 | Down: 4 | New: 36
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Piper Jaffray maintains an Overweight rating on RPM International (NYSE: RPM), and raised the price target to $58.00 (from $57.00), following investor meetings. Analyst Mike Ritzenthaler believes that consumer products will eventually start to flow into Latin America through Viapol.

Ritzenthaler commented, "We maintain our Overweight rating and lift our target to $58 (from $57) on shares of RPM following investor meetings with management this week. With Consumer lapping relatively easier comparables over the next 2-3 quarters, we continue to believe the Industrial segment’s exposure to healthier U.S. non-residential construction end markets y/y can provide a significant benefit to earnings in F4Q and early fiscal 2016. New products (such as OEM applications for NeverWest, expanding TUF-STRAND acceptance, and AlphaGuard for roofing) should support mid to high-single digit topline growth and we think another 100-150bps of EBIT margin improvement is possible depending on the mix shift of earnings between consumer and industrial, continued innovation and margin-accretive acquisitions."

For an analyst ratings summary and ratings history on RPM International click here. For more ratings news on RPM International click here.

Shares of RPM International closed at $49.03 yesterday.



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