Goldman Sachs Upgrades Tyco International (TYC) to Buy
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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: 23 | New: 22
Rating Summary:
9 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
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Goldman Sachs upgraded Tyco International (NYSE: TYC) from Neutral to Buy with a price target of $52 (down from $54).
The firm cited: "(1) we see less risk to 2012 EPS estimates, given high recurring revenues and lower expected corporate and tax expense, (2) we value the call option associated with potential M&A (either a breakup or sale of the company) more highly in a slower growth environment, and (3) we expect sentiment to improve relative to the group, as lower global growth increases risks of disappointing margins for peers to a greater degree, in our view."
Goldman lowered CY2012/CY2013 EPS estimates by 2%/ 2% to $3.75/ $4.25 (FY2012/FY2013 now $3.65/$4.12 from $3.70/$4.20).
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 $41.38 yesterday.
The firm cited: "(1) we see less risk to 2012 EPS estimates, given high recurring revenues and lower expected corporate and tax expense, (2) we value the call option associated with potential M&A (either a breakup or sale of the company) more highly in a slower growth environment, and (3) we expect sentiment to improve relative to the group, as lower global growth increases risks of disappointing margins for peers to a greater degree, in our view."
Goldman lowered CY2012/CY2013 EPS estimates by 2%/ 2% to $3.75/ $4.25 (FY2012/FY2013 now $3.65/$4.12 from $3.70/$4.20).
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 $41.38 yesterday.
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