Market Overview

UPDATE: Citigroup Reiterates Buy Rating, Raises PT on Precision Castparts Corp.

Share:
Related PCP
Benzinga's Top Downgrades
The Implications Of Buffett's PCP Buyout
Where Warren Buffett Is Investing Amid Volatility (Investor's Business Daily)

In a report published Wednesday, Citigroup reiterated its Buy rating on Precision Castparts Corp. (NYSE: PCP), and raised its price target from $193.00 to $238.00.

Citigroup noted, “We're positive on PCP for 3 reasons. First, the company is exposed to positive cyclical dynamics, particularly production rate increases by commercial aerospace OEMs. Second, the company should benefit from positive secular trends in energy markets, especially in emerging economies including China, India, and Mid East. Third, we expect the company to generate higher long-term margins via accretive acquisitions and robust incremental margins as capacity utilization improves. Combined, we believe this can drive ~14% annual revenue growth between FY12 and FY15E, and 170 bps segment margin expansion through FY15E.”

Precision Castparts Corp. closed on Tuesday at $186.77.

Latest Ratings for PCP

DateFirmActionFromTo
Aug 2015CitigroupMaintainsNeutral
Aug 2015CitigroupDowngradesBuyNeutral
Aug 2015CitigroupMaintainsBuy

View More Analyst Ratings for PCP
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Price Target Analyst Ratings

 

Related Articles (PCP)

View Comments and Join the Discussion!

Get Benzinga's Newsletters