UPDATE: Oppenheimer Initiates Luxfer Holdings at Outperform on Strong Fundamentals

Oppenheimer initiated coverage on Luxfer Holdings

with an Outperform rating and a $15 price target. Oppenheimer noted, "LXFR's customer base consists of blue chip global companies serving enduring end markets, with growth outperformance prospects driven by a breadth of current and emerging niche market opportunities. We believe magnesium- and zirconium-based solutions are increasingly attractive to product engineering markets, with LXFR a clear leader in technical expertise with a global footprint." Luxfer Holdings closed at $10.70 on Friday.