KeyBanc Starts Gencorp (GY) at Hold

KeyBanc initiates coverage on Gencorp (NYSE: GY) with a Hold rating.

Analyst Michael F. Ciarmoli said, " We view the Company’s Aerojet Rocketdyne business unit as one of the primary anchors in the United States’ rocket propulsion industrial base, enjoying duopoly type market status; in our view, this makes GenCorp a strategic national security asset that should be poised to benefit from current industry developments and favorable future space and defense trends. Moreover, we believe the Company’s sizable real estate portfolio in Northern California adds an attractive valuation kicker to the stock that has the potential to meaningfully increase shareholder value over the next decade."

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

Shares of Gencorp closed at $17.59 yesterday.

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