Jefferies Raises Numbers on Airgas (ARG)

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April 3, 2012 8:03 AM EDT
Get Alerts ARG Hot Sheet
Price: $142.95 --0%

Rating Summary:
    3 Buy, 9 Hold, 4 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 6 | Down: 6 | New: 57
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Jefferies raised estimates and their price target on Buy-rated Airgas (NYSE: ARG) from $93 to $103.

The firm comments, "Airgas has acquired $30m (sales) Industrial Welding Supplies. We estimate the transaction was valued at roughly 5x-7x LTM EBITDA, or approximately $25-$35m, and that it could be up to $0.01 accretive to EPS in FY13. Separately, we are raising FY13E $0.15 to $4.65 and rolling forward our price target to 18x calendar 2013E, or $103."

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

Shares of Airgas closed at $89.71 yesterday.

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