Barclays Maintains an 'Overweight' on Dresser-Rand Group (DRC); On Track to Finish the Year Strong

Barclays maintains an 'Overweight' on Dresser-Rand Group (NYSE: DRC) price target raised from $58 to $60.

Barclays analyst says, "2012 Confidence Building: The energy infrastructure build-out cycle has re-started and is gaining momentum, and Dresser-Rand remains our favorite way to invest in this major secular trend. New Unit orders for Dresser are inflecting (particularly for the Upstream business) and Aftermarket orders are rebounding following several quarters of underinvestment by the company's customers."

"We are adjusting our 4Q EPS estimate to $1.18 (from $1.16) reflecting higher New Unit revenue expectations. Our 2012 and 2013 EPS estimates are unchanged. We believe there is upside to our EPS forecasts dependent upon the magnitude of revenue synergies from Grupo Guascor and the timing of a recovery in Libya."

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 $51.06 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Viking Holdings (VIK) PT Raised to $82 at Mizuho
• Bernstein SocGen on Meta Platforms Inc. (META): 'Risk-reward remains attractive'
• Intchains Group Ltd (ICG) PT Lowered to $2 at Benchmark Following 1H Results