KeyBanc Upgrades CIRCOR International (CIR) to Overweight
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Stifel Raises Price Target as Circor (CIR) Announces Critical Flow Solutions Acquisition
October 17, 2016 8:18 AM EDTStifel reiterated a Buy rating on CIRCOR International (NYSE: CIR), and raised the price target to $62.00 (from $60.00), following the company's announced agreement to acquire Critical Flow Solutions (CFS). The purchase price of $210 million is ~9x EBITDA and is expected to be EPS... More
Circor (CIR) Announces Acquisition of Critical Flow Solutions in $210M Deal
October 13, 2016 7:36 AM EDTCIRCOR International, Inc. (NYSE: CIR) announced that it has signed a definitive agreement to acquire Critical Flow Solutions (CFS) for $210 million. The Utah-based company manufactures critical severe-service equipment for refining operations. CFS recorded revenue of approximately $120 million with EBITDA margins over 20% for the fiscal year ended June 30, 2016. The acquisition is anticipated to... More
