Deutsche Bank Starts Elster Group SE (ELT) at Buy; Hidden Natural Gas Gem

Deutsche Bank initiates coverage on Elster Group SE (NYSE: ELT) with a Buy. PT $22.00.

Deutsche analyst said, "Elster is a market leader in the gas meter space with the top position in both the gas and water market globally. We believe shares appear attractively priced at 12.6x P/E on our 2012 Non-GAAP EPS estimate, a discount to several Cleantech and multi-industry peers. We see greater than 40% earnings growth potential over the next 3 years as well as the likelihood of strong free cash generation."

For more ratings news on Elster Group SE click here and for the rating history of Elster Group SE click here.

Shares of Elster Group SE closed at $17.43 yesterday.

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