Piper Jaffray Reiterating Overweight on Mistras Group

Piper Jaffray is out with a research report on Mistras Group, Inc. (NYSE: MG) and it is reiterating its Overweight rating and $25 price target on shares.

In a note to clients, Overweight writes, "Following two days of hosted investors meetings with Mistras' CFO Frank Joyce, we remain impressed with the strong secular growth story and continue to view the current valuation as attractive. By leading with their proprietary technology solutions, Mistras is distancing themselves from the competition in both the scope of solutions offered as well as the broad number of industries that they can service. With many of their end markets still relatively under-penetrated, we believe the Mistras story has multiple years left to play out and given the lack of spending on new infrastructure, we see the reliance on monitoring growing in importance. Our price target remains $25."

Shares of MG closed at $22.49 on Friday.

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