KeyBanc Upgrades Mistras Group (MG) to Overweight

August 17, 2015 7:01 AM EDT
Get Alerts MG Hot Sheet
Price: $10.05 +2.97%

Rating Summary:
    4 Buy, 6 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 9 | Down: 10 | New: 35
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KeyBanc upgraded Mistras Group (NYSE: MG) from Sector Weight to Overweight with a price target of $19. Analyst Tahira Afzal pointed out "measured guidance" and a potential uptick in core customer spending.

"We are upgrading to OW from SW on expectations of stabilizing EBITDA in FY16, as structural changes and inflecting maintenance spending help MG’s business model to regain a premium multiple. We gauge management has set the FY16 guidance bar sufficiently low for continuing macro visibility issues, while we in contrast see deferred turnaround work as inevitably returning and downstream maintenance activity to likely sustainably inflect post an 8-year low," said Afzal.

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

Shares of Mistras Group closed at $15.45 yesterday.

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