UBS Upgrades Precision Castparts (PCP) to Buy

UBS upgraded Precision Castparts (NYSE: PCP) from Neutral to Buy and raised its price target from $174 to $213.

The firm comments, "We are upgrading PCP to Buy as we believe the more than year long cycle of negative EPS revisions to be at an end and think expectations will rise from here on Timet accretion, synergies related to its Aerostructures acquisitions and power upside. Our revised EPS estimates put us ahead of consensus for FY14-15 and we see PCP’s premium expanding as its EPS growth comes through ahead of expectations. Delayed 787 production ramp is risk, but upside case far outweighs."

For an analyst ratings summary and ratings history on Precision Castparts click here. For more ratings news on Precision Castparts click here.

Shares of Precision Castparts closed at $185.36 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• ICICI Securities Upgrades CEAT Ltd. (CEAT:IN) to Buy (1)
• Evercore ISI upgrades U.S. Bancorp to Outperform with $72 target, 'Party like it's 1999'
• CIBC Upgrades Methanex (MEOH) to Outperformer