Jefferies Reiterates a 'Hold' on Tennant Company (TNC); Strong 4Q, Beat; Edge Up Estimates, but Shares Look Fully Valued

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February 22, 2012 2:03 PM EST
Get Alerts TNC Hot Sheet
Price: $69.58 -0.6%

Rating Summary:
    6 Buy, 1 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 6 | Down: 5 | New: 3
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Jefferies reiterates a 'Hold' on Tennant Company (NYSE: TNC) price target raised $1 to $38.00.

Jefferies analyst says, "4Q earnings growth was strong and modestly better than expected. Sales and margin development remain positive and there is good earnings momentum here. But we rate TNC HOLD since the shares are trading at what we believe is an unwarranted 20% premium to peers."

"We are increasing our 2012 EPS estimate by $0.08 (+4%) to $2.35. We are establishing a 2013 EPS estimate of $2.71 (+15%)."

For an analyst ratings summary and ratings history on Tennant Company click here. For more ratings news on Tennant Company click here.

Shares of Tennant Company closed at $43.04 yesterday.

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