UPDATE: Jefferies & Company Reiterates Buy Rating, Raises PT on Materion Corporation
In a report published Monday, Jefferies & Company reiterated its Buy rating on Materion Corporation (NYSE: MTRN), and raised its price target from $32.00 to $35.00.
Jefferies noted, “Following our meetings with mgmt last week, we've increased our target price to $35 (+3) and reiterate our BUY rating. Earnings appear to be at an inflection point with losses associated with its beryllium plant start-up and restructuring costs largely behind it and activity picking up in its key consumer electronics end market, among others, in 2013.”
Materion Corporation closed on Friday at $27.26.
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