Nomura Securities Maintains a 'Neutral' on SPX Corp. (SPW); Q4 Review
Tweet
Share
E-mailGet Alerts SPW Hot Sheet
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
Join SI Premium – FREE
Nomura Securities maintains a 'Neutral' on SPX Corp. (NYSE: SPW) price target raised from $75 to $81.
Analyst, Shannon O'Callaghan, said, "The quarter came in $0.15 light vs. our estimates on a segment income basis as Thermal had worse mix in the quarter and Industrial was impacted by some push-outs into 2012 in some of the non-transformer businesses. Transformer margins (medium plus large) are likely to remain low through 2012. Flow had a solid quarter and the solution capability that SPX has built in Flow is paying off nicely in the form of large system wins. With additional color given on share repurchase and debt reduction timing, we are shifting from pro-forma estimates for 2012 to GAAP, which takes our 2012 EPS estimate to $4.25 while 2013 remains $5.80. We take our target price to $81 based on 19x 2012 and 14x 2013. Our 2011/2012 EPS estimate goes to $4.38/$4.25 (from $4.40/$4.53)."
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 $77.19 yesterday.
Analyst, Shannon O'Callaghan, said, "The quarter came in $0.15 light vs. our estimates on a segment income basis as Thermal had worse mix in the quarter and Industrial was impacted by some push-outs into 2012 in some of the non-transformer businesses. Transformer margins (medium plus large) are likely to remain low through 2012. Flow had a solid quarter and the solution capability that SPX has built in Flow is paying off nicely in the form of large system wins. With additional color given on share repurchase and debt reduction timing, we are shifting from pro-forma estimates for 2012 to GAAP, which takes our 2012 EPS estimate to $4.25 while 2013 remains $5.80. We take our target price to $81 based on 19x 2012 and 14x 2013. Our 2011/2012 EPS estimate goes to $4.38/$4.25 (from $4.40/$4.53)."
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 $77.19 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Fiserv (FISV) PT Lowered to $60 at Freedom Broker
- Petronet LNG Ltd. (PLNG:IN) PT Raised to INR310 at ICICI Securities
- GMR Airports Infrastructure (GMRI:IN) PT Raised to INR99 at ICICI Securities
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
Nomura, Stock BuybackSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
