Nomura Securities Maintains a 'Neutral' on Cooper Industries (CBE); 2012 Outlook Meeting

Nomura Securities maintains a 'Neutral' on Cooper Industries (NYSE: CBE) price target raised from $61 to $65.

Analyst, Shannon O'Callaghan, said, "1Q guide to high end. Following disappointing incremental margin performance in 2011 (14%), management is focused on delivering mid-20% incremental in 2012 (ex acquisitions), and 1Q is tracking towards that goal. We also think CBE could accelerate M&A in 2012, following a 2011 that came up lighter (Laird not completed). Given recovering incremental margins, we are raising our price target to $65 from $61, based on 15x (vs prior 14x) our 2012 EPS estimate of $4.35."

For an analyst ratings summary and ratings history on Cooper Industries click here. For more ratings news on Cooper Industries click here.

Shares of Cooper Industries closed at $60.36 yesterday.

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