Nomura Securities Starts Metaldyne Performance Group (MPG) at Buy

Nomura Securities initiates coverage on Metaldyne Performance Group (NYSE: MPG) with a Buy rating and a price target of $22.00.

Analyst Jonathan Wright commented, "We initiate on Metaldyne Performance Group Inc. (MPG), a manufacturer of highly engineered components for use in the automotive industry, with a Buy rating and $22 target price. Industry consolidation through the last downturn and a reduction in capacity have structurally improved margins, and NA auto remains one of the more stable end markets in the Industrial universe. Trading at a 10% FCF yield, we see value at these levels. Our $22 target price is based on 6x 2016E EV/EBITDA."

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 $20.25 yesterday.

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