Wedbush Morgan Reiterates 'Buy' Rating on AMCOL International (ACO), PT Increased to $40
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Wedbush Morgan reiterates a 'Buy' rating on AMCOL International (NYSE: ACO). Price target increased from $34.50 to $40.
Wedbush analyst says, "Strength in Oilfield Services expected to continue with growth in emerging markets and absent any disruptive weather patterns in Gulf of Mexico...Mineral & Materials segment expected to show margin progress as pricing initiatives take hold. Environmental segment opportunities remain although we suspect international business may need to drive near-term growth. Chrome mine acquisition remains on the horizon but final approval remains elusive...Increasing 2008 and 2009 EPS estimates to $2.00 from 1.99 and to $2.34 from $2.33."
AMCOL International Corporation operates in five segments: minerals, environmental, oilfield services, transportation and corporate.
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