McGraw-Hill (MHP) to Benefit from Pickup in Bond Offerings - Analyst
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Price: $55.93 +0.59%
Rating Summary:
7 Buy, 3 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Rating Summary:
7 Buy, 3 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Trade MHP Now!
Analysts at Benchmark today reiterated a Buy rating on McGraw-Hill (NYSE: MHP) and raised their price target to $64.00 (from $53.00).
Following a 2Q12 slowdown in bond issuance, bond offerings have increased sharply in recent weeks, with record levels of issuance on a week to week basis, led by US investment grade as well as asset backed and high yield bonds. European and Asian issuance has also picked up strongly, noted a report by analysts at Benchmark.
“With a likely prolonged favorable US interest rate environment following recent action by the Federal Reserve, and a substantial amount of debt coming due for refinancing, US issuance is expected to remain strong over the rest of the year and likely well into 2013. New issuance for capital expenditures, share repurchases and M&A activity could also drive issuance,” said analyst Edward J. Atorino.
For an analyst ratings summary and ratings history on McGraw-Hill click here. For more ratings news on McGraw-Hill click here.
Shares of McGraw-Hill closed at $53.60 yesterday, with a 52 week range of $38.68-$53.98.
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Following a 2Q12 slowdown in bond issuance, bond offerings have increased sharply in recent weeks, with record levels of issuance on a week to week basis, led by US investment grade as well as asset backed and high yield bonds. European and Asian issuance has also picked up strongly, noted a report by analysts at Benchmark.
“With a likely prolonged favorable US interest rate environment following recent action by the Federal Reserve, and a substantial amount of debt coming due for refinancing, US issuance is expected to remain strong over the rest of the year and likely well into 2013. New issuance for capital expenditures, share repurchases and M&A activity could also drive issuance,” said analyst Edward J. Atorino.
For an analyst ratings summary and ratings history on McGraw-Hill click here. For more ratings news on McGraw-Hill click here.
Shares of McGraw-Hill closed at $53.60 yesterday, with a 52 week range of $38.68-$53.98.
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