Barclays Maintains an 'Overweight' on Dresser-Rand Group (DRC); Earnings to Ramp Up
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Price: $85.18 --0%
Rating Summary:
3 Buy, 11 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
3 Buy, 11 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Barclays maintains an 'Overweight' on Dresser-Rand Group (NYSE: DRC), PT cut by $1 to $62.
Barclays analyst says, "We continue to believe that the energy infrastructure build-out cycle has re-started and is gaining momentum. Dresser-Rand is our favorite way to invest in this major secular trend. The company's order rate has improved and is likely to expand from current levels and backlog is rebuilding. As this process continues we expect the market to place a higher multiple on the stock. In addition, we believe the company's leverage to FPSOs, "green" applications, and potentially FLNG all argue for a growth trajectory above the already attractive energy infrastructure market growth. The acquisition of Grupo Guascor S.L. will likely accelerate this growth and significantly improves Dresser's competitive position in the power generation and environmental solutions businesses."
"We are trimming our 2011 and 2012 EPS estimates to $2.20 (from $2.25) and $3.45 (from $3.50) primarily reflecting higher assumptions for unallocable expense associated with the acquisition of Grupo Guascor, partially offset by 1Q results."
For more ratings news on Dresser-Rand Group click here and for the rating history of Dresser-Rand Group click here.
Shares of Dresser-Rand Group closed at $55.32 yesterday.
Barclays analyst says, "We continue to believe that the energy infrastructure build-out cycle has re-started and is gaining momentum. Dresser-Rand is our favorite way to invest in this major secular trend. The company's order rate has improved and is likely to expand from current levels and backlog is rebuilding. As this process continues we expect the market to place a higher multiple on the stock. In addition, we believe the company's leverage to FPSOs, "green" applications, and potentially FLNG all argue for a growth trajectory above the already attractive energy infrastructure market growth. The acquisition of Grupo Guascor S.L. will likely accelerate this growth and significantly improves Dresser's competitive position in the power generation and environmental solutions businesses."
"We are trimming our 2011 and 2012 EPS estimates to $2.20 (from $2.25) and $3.45 (from $3.50) primarily reflecting higher assumptions for unallocable expense associated with the acquisition of Grupo Guascor, partially offset by 1Q results."
For more ratings news on Dresser-Rand Group click here and for the rating history of Dresser-Rand Group click here.
Shares of Dresser-Rand Group closed at $55.32 yesterday.
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