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UPDATE: Jefferies Raises PT to $29 on TriMas on Opportunities

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Jefferies reiterated its Hold rating on TriMas (NASDAQ: TRS) but increased its price target from $27 to $29.

Jefferies noted, "We sponsored investor meetings w/CFO Mark Zeffiro and are more optimistic TRS can continue to leverage its diversified portfolio, generate productivity and tactically spend on growth initiatives to drive double-digit earnings growth. … At any one time, there are 200 growth programs at work across the enterprise. We walked away with a more positive view of sales opportunities in the faster-growth ops Specialty Packaging, Energy and Aerospace. We sensed there are a number of acquisitions being pursued alongside these BUs. Cequent, the largest operation but with the slowest growth potential, in our view, is highly focused on margins/cash generation, the latter for funding M&A in the other ops."

TriMas closed at $26.32 on Friday.

Latest Ratings for TRS

DateFirmActionFromTo
Nov 2014JP MorganInitiates Coverage onOverweight
Oct 2014William BlairInitiates Coverage onMarket Perform
Sep 2014Wells FargoDowngradesOutperformMarket Perform

View More Analyst Ratings for TRS
View the Latest Analyst Ratings

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

 

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