Nomura Securities Maintains a 'Neutral' on SPX Corp. (SPW); L-T Story on Track but 2012 Consensus High
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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 of $66.00.
Nomura analyst, Shannon O'Callaghan, said, "The 2012 estimates for SPX have been coming down in the past six months, but we think they may come down some more. Transformer volumes are strong, but the big margin boost is unlikely to be a 2012 event, so with Thermal down in 2012 we expect Flow to drive earnings for the year. The company will issue 2012 guidance at its 1/18 meeting. Our EPS estimates are $5.10 and $0.61 for 2012 and 1Q12, respectively, versus consensus of $5.32 and $0.71. We like the developing trends at SPX but see some risk to 2012 consensus. Our $66 target price is based on 13x our 2012 EPS estimate."
For an analyst ratings summary and ratings history on SPX Corp. click here. For more ratings news on SPX Corp. click here.
Shares of SPX Corp. closed at $65.97 yesterday.
Nomura analyst, Shannon O'Callaghan, said, "The 2012 estimates for SPX have been coming down in the past six months, but we think they may come down some more. Transformer volumes are strong, but the big margin boost is unlikely to be a 2012 event, so with Thermal down in 2012 we expect Flow to drive earnings for the year. The company will issue 2012 guidance at its 1/18 meeting. Our EPS estimates are $5.10 and $0.61 for 2012 and 1Q12, respectively, versus consensus of $5.32 and $0.71. We like the developing trends at SPX but see some risk to 2012 consensus. Our $66 target price is based on 13x our 2012 EPS estimate."
For an analyst ratings summary and ratings history on SPX Corp. click here. For more ratings news on SPX Corp. click here.
Shares of SPX Corp. closed at $65.97 yesterday.
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