Auriga Reiterates a 'Buy' on Universal Stainless & Alloy (USAP); Raising PT on Solid Qtr; Backlog Reaches New Peak

Auriga reiterates a 'Buy' on Universal Stainless & Alloy (NASDAQ: USAP) price target raised from $44 to $54.

Auriga analyst says, "...While there were more than the average number of variables given the North Jackson operations, we believe the key takeaways from the results were that margins and product mix continued to improve, the backlog reached a new peak, and the North Jackson expansion schedule remains on track. All told, we are maintaining our 2012 EPS estimate of $3.70 and initiating a 2013 EPS estimate of $4.50. Consequently, to incorporate our 2013 EPS estimate we are raising our price target."

For an analyst ratings summary and ratings history on Universal Stainless & Alloy click here. For more ratings news on Universal Stainless & Alloy click here.

Shares of Universal Stainless & Alloy closed at $41.00 yesterday.

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