Circor (CIR): Recovery Intact But PT Drops To $48 - KeyBanc

KeyBanc analyst, Jeffrey Hammond, reiterated his Overweight rating on shares of CIRCOR International (NYSE: CIR) and cut his price target to $48 from $53 after the company reported 3Q18 EPS of $0.52, a penny light of the consensus $0.53 as higher corporate expense more than offset a lower tax rate and lighter share count.

The analyst stated "we view CIR's 3Q results as better than feared, with encouraging order trends (most notably in aero) and continued progress with the Fluid Handling acquisition. We remain confident that the Energy cycle is in its early stages and have confidence the Company will make more meaningful progress on margins moving into 2019 as it transitions production to Mexico".

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

Shares of CIRCOR International closed at $32.99 yesterday.

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