UPDATE: Global Hunter Securities Initiates Coverage on Dynamic Materials
According to a research report published this morning, Global Hunter Securities has initiated Dynamic Materials (NASDAQ: BOOM) with an Accumulate rating and $22 PT.
In the report, Global Hunter Securities said, "Dynamic Materials (BOOM) is an industry leader and active consolidator in the explosion metalworking space. The company is also building its presence in the perforation system segment of the oilfield service industry. The company has a history of both acquiring and internally developing core technologies and products. As a niche product company, BOOM's business has focused on energy-related end-markets, which now account for ~60% of revenues. In the near term, we believe the company has good momentum in its core clad plating business as its customers' seasonal maintenance cycle begins and pipeline opportunities indicate a solid demand environment."
Dynamic Materials closed yesterday at $18.58.
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