Oppenheimer Raises Numbers on Cooper Industries (CBE)
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Price: $74.50 --0%
Rating Summary:
3 Buy, 14 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 22 | New: 20
Rating Summary:
3 Buy, 14 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 22 | New: 20
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Oppenheimer raised estimates and their price target on Outperform-rated Cooper Industries (NYSE: CBE) from $70 to $75.
"While investment in global growth initiatives, coupled with some temporary operating issues around a production consolidation and some procurement & delivery issues, negatively impacted 2H11 margins, we believe that growth investments are already supporting top-line results and operating leverage is well poised to recover to about 25% incremental margins," the firm notes. They see a further runway on multiple expansion to track more in line with some mid-cap electrical equipment peers.
FY12 EPS goes from $4.25 to $4.35 and FY13 from $4.80 to $4.90.
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 $64.06 yesterday.
"While investment in global growth initiatives, coupled with some temporary operating issues around a production consolidation and some procurement & delivery issues, negatively impacted 2H11 margins, we believe that growth investments are already supporting top-line results and operating leverage is well poised to recover to about 25% incremental margins," the firm notes. They see a further runway on multiple expansion to track more in line with some mid-cap electrical equipment peers.
FY12 EPS goes from $4.25 to $4.35 and FY13 from $4.80 to $4.90.
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 $64.06 yesterday.
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