UPDATE: Feltl and Company Raises its PT to $36 on American Vanguard
According to a research report this morning, Feltl and Company raises its PT from $35.10 to $36.66 following an impressive 1Q:12 for American Vanguard (NYSE: AVD).
Feltl and Company explained, “American Vanguard is a small but rapidly growing manufacturer and marketer of insecticides, herbicides, fungicides and other chemicals for use in the agriculture industry. In particular AVD is poised to accelerate growth as a result of changes in the markets for corn insecticides and herbicides that have made their products exceptionally more appealing. We believe the impact of this will be sharply accelerating organic growth and EPS growth averaging near 30% annually the next 3- to 5- years.”
American Vanguard closed Friday at $24.26 as Feltl and Company reiterates its Strong Buy rating.
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