Broadpoint.AmTech Lifts Price Target on Precision Castparts (PCP) to $119, Reit Buy
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- Broadpoint.AmTech Lifts Price Target on Precision Castparts (PCP) to $119, Reit Buy
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Broadpoint.AmTech raised its price target on Precision Castparts Corp. (NYSE: PCP) to $119 from $105, reiterating their Buy rating. The firm said the company's acquisition strategy though the downturn, including the recent Calton deal, will benefit the company. The firm said the company appears poised to pick off more strategic deals.
The firm commented, We believe PCP will continue to be afforded a higher multiple given the potential for much higher trough earnings and management's continuing ability to acquire and build its global franchise during an industry downturn.
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