UPDATE: Goldman Sachs Reiterates Buy Rating, Raises PT for Precision Castparts
In a company update published earlier today, the Goldman Sachs Group, Inc. reiterated its Buy rating for Precision Castparts Corp. (NYSE: PCP) and raised its price target from $209.00 to $214.00.
Goldman Sachs said in its report “Precision Castparts reported strong 4QFY12 results and remains a top pick in the Commercial Aerospace sector. Highlights in the quarter included continued strength in Aerospace OE, accelerating growth in IGT, accelerating growth in Fasteners, 40% growth in oil & gas pipe, and strong incremental margins. We reiterate our CL-Buy on PCP, given its best-in-class margins and ROIC, very strong management, leverage to commercial aerospace tailwinds, and unique expansion into Energy end markets.”
Precision Castparts Corp. closed yesterday at $166.54
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