Precision Castparts Corp. Board Approves Expanded Share Repurchase Program
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Canaccord Genuity Raised the Price Target for Precision Castparts (PCP) Following an In-Line 4Q
May 14, 2015 11:21 AM EDTCanaccord Genuity maintain a Hold rating on Precision Castparts (NYSE: PCP), and raised the price target to $230.00 (from $225.00), following an in-line 4Q15.
Canaccord Genuity analyst, Ken Herbert, commented on PCP, saying, "Precision Castparts (PCP) announced Q4/15 and FY15 adjusted earnings of $2.94 and $12.59 respectively, in line with our expectations. However, this excludes the restructuring and asset impairment previously announced in April. Consolidated organic sales were flat on... More
Precision Castparts (PCP) Adds $2B to Common Buyback Program
May 13, 2015 6:08 AM EDTPrecision Castparts (NYSE: PCP) has approved a $2 billion expansion to the Company's existing share repurchase program, effective immediately and continuing through June 30, 2017. The Company plans to repurchase up to $2 billion of its common stock over the next 12 to 18 months as part of its comprehensive cash deployment strategy. The Company has a consistent... More
