UPDATE: Jefferies & Company Reiterates Hold Rating, Raises PT on Worthington Industries
In a report published Friday, Jefferies & Company reiterated its Hold rating on Worthington Industries (NYSE: WOR), and slightly raised its price target from $24.00 to $25.00.
Jefferies noted, “We've made modest upward revisions to EPS estimates following F2Q with an improved earnings forecast for Cylinders and JV's only partially offset by reduced Eng. Cabs income and higher interest/tax expense vs prior est. Our TP increases to $25 (+$1) and values the shares at 7.0x CY13 EBITDA. Our LT view remains positive, though we see risk-reward balanced at current valuations.”
Worthington Industries closed on Thursday at $26.81.
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