Jefferies Boosts Price Target On Texas Industries (TXI) to $42 After Q2
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Price: $92.10 --0%
Rating Summary:
0 Buy, 7 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
0 Buy, 7 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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Jefferies lifted estimates and its price target on Buy-rated Texas Industries (NYSE: TXI) from $39 to $42 following Q2 results due to cost savings.
The firm comments, "Although TXI’s Q2 results were lower than expected, the majority of the shortfall related to restructuring costs that will benefit future profitability. We are therefore raising our EPS estimates from a loss of $2.24 to a loss of $2.15 for this year and from a loss of $1.32 to a loss of $0.93 for next year. We are also increasing our mid-cycle based price target from $39 to $42. Our Buy rating remains unchanged."
Current year EPS was raised from ($2.24) to ($2.15) and next year from ($1.32) to ($0.93.
For an analyst ratings summary and ratings history on Texas Industries click here. For more ratings news on Texas Industries click here.
Shares of Texas Industries closed at $29.06 yesterday.
The firm comments, "Although TXI’s Q2 results were lower than expected, the majority of the shortfall related to restructuring costs that will benefit future profitability. We are therefore raising our EPS estimates from a loss of $2.24 to a loss of $2.15 for this year and from a loss of $1.32 to a loss of $0.93 for next year. We are also increasing our mid-cycle based price target from $39 to $42. Our Buy rating remains unchanged."
Current year EPS was raised from ($2.24) to ($2.15) and next year from ($1.32) to ($0.93.
For an analyst ratings summary and ratings history on Texas Industries click here. For more ratings news on Texas Industries click here.
Shares of Texas Industries closed at $29.06 yesterday.
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