Stifel Nicolaus initiates its coverage on Actuant Corporation ATU with a Buy rating and a $34 target price as the company gradually repositions its portfolio.
Stifel Nicolaus says, "Actuant targets smaller, bolt-on acquisitions in niche markets to supplement organic growth strategies. Acquisition criteria include growth rates in excess of GDP in vertical markets with an underlying secular growth story where the high cost of downtime and safety among other mission-critical type applications drive
product acceptance. We see a recurring revenue component and the ability to strengthen relationships with end users through value-added services as criteria for potential acquisitions."
ATU closed at $27.79 a share on Monday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
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!
Already a member?Sign in