UPDATE: Jefferies Lowers PT on Altra Holdings from $20 to $19
Jefferies maintained a Hold rating on Altra Holdings (NASDAQ: AIMC) and lowered its price target from $20 to $19.
Jefferies commented, “2Q12 adjusted EPS increased 12%. Operating income trailed our forecast, non-operating items provided a penny EPS beat. Core sales growth was slightly below our forecast, margin declined as expected. 2012 guidance was lowered. We see a weaker 2H12 owing to Europe and have lowered our forecasts.”
Altra Holdings closed at $16.64 on Friday.
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