UBS Raises PT on Colfax (CFX), Sees Years of Strong Growth

November 15, 2012 12:47 PM EST Send to a Friend
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Price: $54.75 -0.11%

Rating Summary:
    6 Buy, 9 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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UBS boosted its price target on Buy-rated Colfax Corporation (NYSE: CFX) from $38 to $42 calling in a "compelling long-term growth story."

While the stock is not without risks, UBS views it as among the most attractive multi-year growth stories in the sector.

"We still expect a '12-'16 adj. EPS CAGR of 30%+ (albeit, off a lower '12 base), driven by deleveraging, restructuring cost saving initiatives, conversion of the convertible preferred, and (hopefully) a cyclical recovery. We also see upside from future M&A activity. However, given CFX's outperformance since July, and lower base-year EPS for ’12, CFX is now somewhat more of a "macro bet" than it was in late '11/1H12."

UBS Revised '12/'13 EPS estimates are $1.32/$2.05, respectively.

For an analyst ratings summary and ratings history on Colfax Corporation click here. For more ratings news on Colfax Corporation click here.

Shares of Colfax Corporation closed at $35.29 yesterday.


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