Canaccord Genuity Boosts PT on ESCO (ESE), Sees Improved Profits in '13

Canaccord Genuity maintained a Hold rating on ESCO Technologies (NYSE: ESE) and raised its price target to $37.00 (from $34.00).

Commenting on the company's Q4 earnings report, analyst John Quealy said "Results reflect continued utility delays and lower muni water AMI business (and higher than expected costs with SoCalGas ramp/new products)."

Going forward, he thinks these challenges will persist, but a restructuring of the Test business may improve profitability in 2013.

For an analyst ratings summary and ratings history on ESCO Technologies click here. For more ratings news on ESCO Technologies click here.

Shares of ESCO Technologies closed at $36.04 yesterday.

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