Jefferies Raises Price Target on Airgas (ARG), Anticipating Q4 Conference Call

Jefferies is reiterating its Buy rating and is raising its price target from $72 to $76 on shares of Airgas (NYSE: ARG) as the firm is looking forward to the company's Q4 conference call.

The firm is anticipating that ARG will use its Q4 call to elaborate on the SAP implementation and will provide updated progress on its buyback plan and pricing initiatives. Jefferies expects that the company will purchase $200 million of its buyback plan in Q4 and the rest in Q1.

Currently Jefferies EPS estimates for 2011, 2012, and 2013 are $3.30, $3.90, and $4.55. The firms revenues estimates are $4,256 million, $4,632 million, and $4,910 million.

For more ratings news on Airgas click here and for the rating history of Airgas click here.

Shares of Airgas closed at $66.85 yesterday.

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