Market Overview

UPDATE: Stifel Nicolaus Upgrades Circor International to Buy on Growth Outlook

Related CIR
Worst Performing Industries For October 16, 2015
Barron's Recap: A Strong Market In A Crazy World

Stifel Nicolaus upgraded its rating on Circor International (NYSE: CIR) from Hold to Buy and announced a price target of $41 a share.

Stifel Nicolaus noted, "We are upgrading shares of CIRCOR to Buy for the following reasons 1) Multiple tailwinds to margins in 2013 including absence of low margin backlog, improving long cycle pricing, fixed cost absorption at new India plant, leverage on volume in Aerospace, 2) We see limited downside risk to oil prices in the near term and CIR shares historical correlation to oil imply a $40 current valuation, 3) Management had done a poor job of delivering on promises in the past. YTD execution has been very good, in our opinion, and CIRCOR's valuation warrants management being taken "out of the penalty box"

Circor International closed at $31.23 on Thursday.

Latest Ratings for CIR

Nov 2015SunTrust Robinson HumphreyInitiates Coverage onNeutral
Jul 2015KeyBancDowngradesOverweightSector Weight
Apr 2015Global HunterInitiates Coverage on

View More Analyst Ratings for CIR
View the Latest Analyst Ratings

Posted-In: Stifel NicolausAnalyst Color Upgrades Intraday Update Analyst Ratings


Related Articles (CIR)

View Comments and Join the Discussion!

Get Benzinga's Newsletters