Market Overview

UPDATE: Stifel Nicolaus Raises Target to $78.50 on Anixter International

Stifel Nicolaus maintains its Buy rating on Anixter International (NYSE: AXE) and raises its price target by $2 to $78.50 a share as it increases 2012 forecasts for the company despite a sluggish fourth quarter performance.

Stifel Nicolaus says, "AXE indicated that the 4Q11 slowdown in North America appears to have been temporary, based on January 2012 bookings and end market trends. Emerging markets are expected to continue to achieve strong growth. Only Europe is experiencing "modestly" softer demand. We are raising our 2012 EPS estimate to $6.48 from $6.23, or 13.5% growth over 2011 reported EPS of $5.71. The primary reason for the EPS increase is a higher estimated 2012 operating profit margin and lower shares outstanding."

AXE closed at $65.51 a share yesterday.

Posted-In: Stifel NicolausAnalyst Color Price Target Reiteration Intraday Update Analyst Ratings

 

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