Luxfer Holdings PLC (LXFR) PT Raised to $30 at KeyBanc

KeyBanc analyst Philip Gibbs raised the price target on Luxfer Holdings PLC (NYSE: LXFR) to $30.00 (from $24.00) while maintaining a Overweight rating following the company's 3Q earning report. LXFR strengthened its balance sheet once again in 3Q18 via reduction in net debt excluding pension (down $11M q/q) and improved its run-rate interest expense.

KeyBanc raised 2018E EBITDA to $80M (from $74M) vs. 2017's $62M to reflect stronger Elektron sales and margin expectations, and better momentum in Gas Cylinders. EPS views were lifted to $1.67 (from $1.45) vs. LXFR’s ~$1.65 guidance (from $1.35-$1.45).

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