KeyBanc Starts Colfax (CFX) at Hold
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KeyBanc initiates coverage on Colfax Corp. (NYSE: CFX) with a Hold rating.
The firm believes Colfax's "exposure to oil & gas, power generation and commercial marine" create a solid platform for organic growth, specifically through:
- favorable long-term secular demand trends in developing nations' power infrastructure
- persisting tight oil & gas supply, and
- solid visibility and record backlog in commercial marine vessels.
KeyBanc established a FY08 proforma EPS estimate of $1.17 and FY09 estimate of $1.40. The current Street estimates are $1.08 for FY08 and $1.39 for FY09.
Colfax Corporation designs, manufactures, and distributes fluid handling products, including pumps, fluid handling systems, and specialty valves that transfer or control liquids in various applications worldwide.
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