JMS Starts L.B. Foster (FSTR) at Buy
More News related to FSTR
- David Sauder Named Vice President, Global Business Development at L.B. Foster Company
- L.B. Foster Announces Additional Stock Repurchase Authorization
- L.B. Foster (FSTR) Reports Mixed Q3 Earnings
- L.B. Foster Reports Increased Sales and Increased Adjusted Operating Results
- Trading Radar for 10/23: Microsoft (MSFT), Altria (MO), UPS (UPS), Dow (DOW), Bristol-Myers (BMY), Eli Lilly (LLY), Potash (POT), MEMC Electronic (WFR), Level 3 (LVLT) Report
More News related to New Coverage
- Raymond James Starts Millicom (MICC) at Strong Buy
- Stifel Nicolaus Starts City National (CYN) at Hold
- Stifel Nicolaus Starts eHealth (Nasdaq: HLTH) with a Buy
- Wasserman & Associates initiates coverage on American Physicians Service Group (AMPH) with a Buy
- Jesup & Lamont Initiates Coverage on AutoZone (AZO) with a Hold.
Janney Montgomery Scott initiates coverage on L.B. Foster (Nasdaq: FSTR) with a Buy rating and a $43 price target.
The firm said L.B. Foster appears positioned to benefit from several "underlying demand drivers, such as the railroad’s efforts to increase safety and efficiency in the face of record traffic volumes and the upgrade of the public infrastructure." Janney Montgomery Scott also calls the company's fundamentals "excellent" and notes that it has a "strong balance sheet."
JMS said its $43 fair value estimate on L.B. Foster is based on 16x the firm's FY08 EPS estimate, a substantial discount from its historic forward P/E of 21x. Notably, shares of L.B. Foster currently traded at 11.1x the firm's FY08 EPS estimate of $2.04. The Street consensus is $2.01.
L. B. Foster Company engages in the manufacture, fabrication, and distribution of products and services for the rail, construction, energy, and utility markets in the United States.
Related Categories
New CoverageStocks Mentioned
+0.43Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
