Wedbush Maintains Outperform Rating On Precision Castparts

According to Wedbush, Precision Castparts PCP Outperform rating is reiterated. Wedbush said that it is reiterating its OUTPERFORM rating and increasing the price target to $170 from $165 on further clarity on future commercial OEM shipments and power gen which is finally showing signs of a material recovery. “We are slightly increasing our fiscal 2012 and 2013 sales estimates and increasing our fiscal 2012 and 2013 EPS estimates to $8.59 and $9.95, respectively.” Precision Castparts closed yesterday at $157.43.