UPDATE: Jefferies Raises Price Target on Pall to $55
According to Jefferies, Pall (NYSE: PLL) price target is raised to $55.
Jefferies said that PLL's fiscal-1Q12 EPS of $0.74 was $0.09 (+14%) ahead of consensus on a vastly stronger core revenue growth experience and a slightly better FX-related tailwind (+$0.02 vs. our model). “Our $55 PT represents a 10-year horizon in our DCF model and implies an EV of 9.5x our CY12 EBITDA forecast. Risks: weaker capacity utilization trends, margin expansion shortfalls.”
Pall closed yesterday at $52.50.
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