UPDATE: Global Hunter Securities Initiates Accumulate Rating, PT of $30 on Encore Wire

Loading...
Loading...
Global Hunter Securities initiates coverage on Encore Wire Corp.
WIRE
with an Accumulate rating and a price target of $30 as company is seen well positioned to emerge successfully from macro weaknesses. GHS says, “we would encourage investors to build a position in WIRE on macro-related weakness as we see the company as well positioned to weather economic uncertainty and to emerge from any potentially weak near-term period successfully. We are initiating coverage of Encore Wire Corp. with an Accumulate rating and $30 price target, which is based on EV/EBITDA multiples of 9.2x and 9x our 2011 and 2012 estimates, respectively.” WIRE closed at $25.98 per share on Friday.
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorPrice TargetInitiationAnalyst RatingsGlobal Hunter Securities
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...