Nomura Securities Maintains a 'Neutral' on SPX Corp. (SPW); Q3 Review
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Price: $49.44 +2.25%
Rating Summary:
10 Buy, 10 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
10 Buy, 10 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Nomura Securities maintains a 'Neutral' on SPX Corp. (NYSE: SPW) price target raised from $60 to $62.
Nomura analyst, Shannon O’Callaghan, said, "The 3Q beat plus raising the low end of guidance was positive relative to concerns of a potential guidance cut. The details were more mixed with a nice beat in the important Flow business, a highlight, while the expectation for a 10% revenue decline in Thermal in 2012 was a negative and China competition sounds tougher. Transformers still good; pricing gradual. ClydeUnion looks like it can hold the $0.30-$0.40 accretion expectation but on lower EBITDA offset by lower interest/ amortization. We think a shift in investor focus towards more flow and less power could take some time."
For more ratings news on SPX Corp. click here and for the rating history of SPX Corp. click here.
Shares of SPX Corp. closed at $56.93 yesterday.
Nomura analyst, Shannon O’Callaghan, said, "The 3Q beat plus raising the low end of guidance was positive relative to concerns of a potential guidance cut. The details were more mixed with a nice beat in the important Flow business, a highlight, while the expectation for a 10% revenue decline in Thermal in 2012 was a negative and China competition sounds tougher. Transformers still good; pricing gradual. ClydeUnion looks like it can hold the $0.30-$0.40 accretion expectation but on lower EBITDA offset by lower interest/ amortization. We think a shift in investor focus towards more flow and less power could take some time."
For more ratings news on SPX Corp. click here and for the rating history of SPX Corp. click here.
Shares of SPX Corp. closed at $56.93 yesterday.
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