UPDATE: Bank of America Raises Actuant's PT
According to a research report published today, Bank of America has increase Actuant Corp.'s (NASDAQ: ACHN) PT from $26 to $30.
In the report, Bank of America commented, “Our PO of $30 is based on applying a 13.6x P/E to our '13 EPS estimate of $2.20. We maintain our ‘12/'13 EPS estimates of $2.05/$2.20. At its 4Q11 earnings, ATU provided '12 EPS outlook range of $1.85-$2.05, of which we are at the high end. The company cited '12 headwinds in December for China and W. European truck and auto, which we believe will persist through 1H12, on continued macroeconomic uncertainty. We maintain our Neutral rating on the stock.”
Actuant is currently trading at $10.73.
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