Market Overview

UPDATE: Citigroup Reduces PT to $28 on Tyco International on Increased Cyclicality

Share:
Related TYC
RBC: Nelson Peltz Could Go Activist In These Stocks
General Electric, Tyco And Others Insiders Have Been Buying
Will Tyco (TYC) Miss Q3 Earnings on Currency Woes? - Analyst Blog (Zacks)

Citigroup reiterated its Neutral rating on Tyco International (NYSE: TYC) and reduced its price target from $28.49 to $28.

Citigroup noted, "The bull case hinges on 270-370 bps of operating margin upside by 2015 and a potential takeout scenario, given consolidation trends in the building services sector. We believe the management team is deep and capable of delivering on margin improvements. We are maintaining our Neutral rating and adjusting our price target to $28.Our target FY13 P/E of 15.4x implies a stock price of $28 per share, or 2% upside to its current price. Our valuation is based on a relative P/E range of (15%) to +15%, driven by its increased cyclicality and pure-play composition."

Tyco International closed at $27.41 on Monday.

Latest Ratings for TYC

DateFirmActionFromTo
Jun 2015Imperial CapitalMaintainsOutperform
Apr 2015BarclaysMaintainsOverweight
Apr 2015RBC CapitalMaintainsOutperform

View More Analyst Ratings for TYC
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (TYC)

Get Benzinga's Newsletters