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Oppenheimer Upgrades RPM International (RPM) to Perform

January 15, 2013 6:59 AM EST Send to a Friend
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Price: $44.65 -2.47%

Rating Summary:
    5 Buy, 3 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 16 | Down: 12 | New: 33
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Oppenheimer upgraded RPM International (NYSE: RPM) from Underperform to Perform.

The firm comments, "We are upgrading RPM from Underperform to Perform, no change to estimates. The stock continues to run up despite trading at 17.1x FY14E and mixed 2Q13 results. RPM does not have any natural comps, and investors appear lately to value it like a paint company (SHW, VAL, PPG at 17-21x), although it has no architectural coatings exposure and has been normally seen as a diversified chemicals company, as evidenced by a 5- and 10-year average P/E of 13-14x. Separately, the shares have benefited from an easing of the historical discount related to RPM's acquisitiveness and asbestos liability."

For an analyst ratings summary and ratings history on RPM International click here. For more ratings news on RPM International click here.

Shares of RPM International closed at $31.35 yesterday.




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