Auriga Reiterates a 'Hold' on Kaman Corporation (KAMN); Stage Set for a Strong 2012; Raising PT

Auriga reiterates a 'Hold' on Kaman Corporation (NASDAQ: KAMN) price target raised from $33 to $36.

Auriga analyst says, "Kaman reported adjusted EPS of $0.53 which was ahead of expectations, although revenue of $378.7 million came up short of consensus of $395.7 million as lower JPF shipments pressured Aerospace Segment results. Looking forward, we believe 2012 is setting up to be a strong year, as we look for a recovery in fuze shipments, solid growth in Industrial Distribution on the back of recent acquisitions, and a strong tailwind in commercial aerospace markets. That said, with shares currently trading near our fair valuation target of 14x our FY13 estimate, we remain on the sidelines for a better entry point even as we modestly increase our price target."

For an analyst ratings summary and ratings history on Kaman Corporation click here. For more ratings news on Kaman Corporation click here.

Shares of Kaman Corporation closed at $33.04 yesterday.

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