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

Jefferies reiterated its Hold rating on TriMas

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.