UBS Maintains a 'Buy' on Tyco International (TYC); Solid F3Q; No Complaints
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Price: $34.26 +1.03%
Rating Summary:
5 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
5 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade TYC Now!
UBS maintains a 'Buy' on Tyco International (NYSE: TYC) price target lowered from $54 to $50.
UBS analyst says, "On balance, F3Q slightly-above consensus after adjustments - Adj. EPS of $0.85 was above consensus of $0.73 and guidance of $0.70, but lower than expected corporate expenses and taxes added ~10c, partially offset by a slightly higher than expected share count (~1c). Sales of $4.3B beat guidance/consensus of $4.2B, with +4% organic sales growth (was +3% in F2Q). Adj. operating margin improved 170bp YoY to 12.1%, and improved ~20bp QoQ..Fiscal 4Q guidance for roughly $0.08 of operational improvement vs. 3Q...Out PT was reduced to reflect a lower market multiple and a lower cash balance, partially offset by our higher ’12 EPS estimate." (UBS raises FY11 EPS estimate from $3.10 to $3.21 and FY12 from $3.70 to $3.75)
For more ratings news on Tyco International click here and for the rating history of Tyco International click here.
Shares of Tyco International closed at $44.77 yesterday, with a 52 week range of $35.77-$53.38.
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UBS analyst says, "On balance, F3Q slightly-above consensus after adjustments - Adj. EPS of $0.85 was above consensus of $0.73 and guidance of $0.70, but lower than expected corporate expenses and taxes added ~10c, partially offset by a slightly higher than expected share count (~1c). Sales of $4.3B beat guidance/consensus of $4.2B, with +4% organic sales growth (was +3% in F2Q). Adj. operating margin improved 170bp YoY to 12.1%, and improved ~20bp QoQ..Fiscal 4Q guidance for roughly $0.08 of operational improvement vs. 3Q...Out PT was reduced to reflect a lower market multiple and a lower cash balance, partially offset by our higher ’12 EPS estimate." (UBS raises FY11 EPS estimate from $3.10 to $3.21 and FY12 from $3.70 to $3.75)
For more ratings news on Tyco International click here and for the rating history of Tyco International click here.
Shares of Tyco International closed at $44.77 yesterday, with a 52 week range of $35.77-$53.38.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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