Goldman Sachs Starts Metaldyne Performance Group (MPG) at Buy

Goldman Sachs initiated coverage on Metaldyne Performance Group (NYSE: MPG) with a Buy rating and a price target of $23.00.

Analyst Patrick Archambault said, "We see MPG’s core business of castings/forgings/powdered metal as benefiting from a few key positive trends: (1) increasing and higher value-added content from higher power density engines & 8/9/10 speed transmissions supporting top line and margin growth, and (2) a heavily restructured and consolidated industry which drives above-average pricing power with high barriers to entry. MPG ranks 4th among 19 covered stocks in our stock selection framework on our existing top line and EPS growth expectations combined with its below average trading multiples."

For an analyst ratings summary and ratings history on Metaldyne Performance Group click here. For more ratings news on Metaldyne Performance Group click here.

Shares of Metaldyne Performance Group closed at $17.03 yesterday.

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