FBR Capital Maintains an 'Outperform' on Cooper Industries (CBE); Strong 1Q11; Increasing Estimates and Price Target
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Price: $74.50 --0%
Rating Summary:
3 Buy, 14 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
3 Buy, 14 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
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FBR Capital maintains an 'Outperform' on Cooper Industries (NYSE: CBE), PT increased from $65 to $70.
FBR analyst says, "...We remain positive on Cooper as the outlook in the company’s late-cycle markets in nonres and utility is for recovery in 2011–2012. Acquisitions could provide additional upside where, even as commentary suggests valuations tracking higher, especially for larger-sized deals, we would still expect bolt-ons over the next several months. Increased spending on growth initiatives also suggests Cooper’s longer-term organic growth trajectory could be moving higher to the 6%–9% range. We are raising our 2011–2012 EPS estimates from $3.80/$4.40 to $4.00/$4.65..."
For more ratings news on Cooper Industries click here and for the rating history of Cooper Industries click here.
Shares of Cooper Industries closed at $66.24 yesterday.
FBR analyst says, "...We remain positive on Cooper as the outlook in the company’s late-cycle markets in nonres and utility is for recovery in 2011–2012. Acquisitions could provide additional upside where, even as commentary suggests valuations tracking higher, especially for larger-sized deals, we would still expect bolt-ons over the next several months. Increased spending on growth initiatives also suggests Cooper’s longer-term organic growth trajectory could be moving higher to the 6%–9% range. We are raising our 2011–2012 EPS estimates from $3.80/$4.40 to $4.00/$4.65..."
For more ratings news on Cooper Industries click here and for the rating history of Cooper Industries click here.
Shares of Cooper Industries closed at $66.24 yesterday.
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