Jefferies Starts Edgen Group (EDG) at Buy
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Price: $6.34 -0.47%
Rating Summary:
6 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
6 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade EDG Now!
Jefferies initiates coverage on Edgen Group (NYSE: EDG) with a Buy. PT $17.00.
The firm comments, "We expect the capital spending in Oil & Gas to last a couple more years and benefit for EDG's businesses. Combined with expected margin expansion, we see strong EBITDA and EPS growth in 2012-13. We consider EDG's valuation compelling."
NOTE: Jefferies acted as a joint bookrunner for EDG's initial public stock offering completed on 4/30/12.
For an analyst ratings summary and ratings history on Edgen Group click here. For more ratings news on Edgen Group click here.
Shares of Edgen Group closed at $7.49 yesterday, with a 52 week range of $7.15-$10.44.
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The firm comments, "We expect the capital spending in Oil & Gas to last a couple more years and benefit for EDG's businesses. Combined with expected margin expansion, we see strong EBITDA and EPS growth in 2012-13. We consider EDG's valuation compelling."
NOTE: Jefferies acted as a joint bookrunner for EDG's initial public stock offering completed on 4/30/12.
For an analyst ratings summary and ratings history on Edgen Group click here. For more ratings news on Edgen Group click here.
Shares of Edgen Group closed at $7.49 yesterday, with a 52 week range of $7.15-$10.44.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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