FBR Capital Reiterates an 'Outperform' on Tyco (TYC); Improving Trajectory in Late-Cycle Businesses; Leaves Strategic Options Open
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Price: $45.59 --0%
Rating Summary:
9 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 20 | New: 20
Rating Summary:
9 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 20 | New: 20
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FBR Capital reiterates an 'Outperform' on Tyco International (NYSE: TYC), PT increased from $54 to $58.
FBR analyst says, "Looking ahead, we remain positive on Tyco and see upside from strong cyclical leverage in the company’s 55% “non-service” revenue portfolio. We also see significant margin improvement opportunity in Security Solutions as Tyco’s interactive Pulse offerings gain traction (see new analysis in this report on potential upside from converting the company’s legacy customer base to Pulse). The strong FCF (~$1.6B in FY2011E) and under-levered balance sheet (13% net debt to cap), should provide ample firepower for share buybacks and acquisitions. We raise 2011/2012 estimates from $3.05/$3.60 to $3.12/$3.75."
For more ratings news on Tyco International click here and for the rating history of Tyco International click here.
Shares of Tyco International closed at $48.41 yesterday.
FBR analyst says, "Looking ahead, we remain positive on Tyco and see upside from strong cyclical leverage in the company’s 55% “non-service” revenue portfolio. We also see significant margin improvement opportunity in Security Solutions as Tyco’s interactive Pulse offerings gain traction (see new analysis in this report on potential upside from converting the company’s legacy customer base to Pulse). The strong FCF (~$1.6B in FY2011E) and under-levered balance sheet (13% net debt to cap), should provide ample firepower for share buybacks and acquisitions. We raise 2011/2012 estimates from $3.05/$3.60 to $3.12/$3.75."
For more ratings news on Tyco International click here and for the rating history of Tyco International click here.
Shares of Tyco International closed at $48.41 yesterday.
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