FBR Capital Downgrades Ladish Co (LDSH) to Market Perform; Enters Merger Agreement with ATI for $48
LDSH Hot Sheet
Rating Summary:0 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23
FBR Capital downgraded Ladish Co (NASDAQ: LDSH) to Market Perform. Raises PT from $34 to $48.
FBR analyst says, "Ladish and ATI announced yesterday morning that they had entered into a merger agreement that was comprised of a cash and share offer totaling roughly $48 per share, or $778 million...From a fundamental point of view, the commercial aerospace industry is on the cusp of a full-blown recovery, and we think that ATI saw an opportunity to leverage this. We still believe that both the OEM and the aftermarket will be strong end markets, and ATI has clearly made a statement regarding its view of its outlook. The merger agreement still needs to be approved by shareholders, and the merger is expected to close in early 2011."
For more ratings news on Ladish Co click here and for the rating history of Ladish Co click here.
Shares of Ladish Co closed at $45.42 yesterday, with a 52 week range of $11.72-$33.60.
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FBR analyst says, "Ladish and ATI announced yesterday morning that they had entered into a merger agreement that was comprised of a cash and share offer totaling roughly $48 per share, or $778 million...From a fundamental point of view, the commercial aerospace industry is on the cusp of a full-blown recovery, and we think that ATI saw an opportunity to leverage this. We still believe that both the OEM and the aftermarket will be strong end markets, and ATI has clearly made a statement regarding its view of its outlook. The merger agreement still needs to be approved by shareholders, and the merger is expected to close in early 2011."
For more ratings news on Ladish Co click here and for the rating history of Ladish Co click here.
Shares of Ladish Co closed at $45.42 yesterday, with a 52 week range of $11.72-$33.60.
Discover Wall Street's best ratings calls with the pros - Upgrade to Ratings Insider Elite. Free Trial!
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