KeyBanc Upgrades Airgas (ARG) to Buy; Poised to Return to Its High Growth Form

KeyBanc upgraded Airgas (NYSE: ARG) from Hold to Buy. PT $85.

KeyBanc analyst says, "We believe ARG will return to consistent strong growth particularly in the early parts of an industrial recovery, which will be augmented by highly accretive acquisitions. We see mid-teens earnings growth for several years to come but suspect momentum on the latter could pick up near term as the overhang of the Air Products (NYSE: APD) takeover attempt has been lifted."

"We are raising our EPS estimate by $0.05 to $3.90 for FY12E, which is 15% year-over-year growth from $3.34 FY11 with more productivity savings and stock buybacks boosting our outlook."

For more ratings news on Airgas click here and for the rating history of Airgas click here.

Shares of Airgas closed at $69.58 yesterday.

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