UPDATE: BMO Capital Markets Reiterates Market Perform Rating, Raises PT on WMS Industries
In a report published Friday, BMO Capital Markets reiterated its Market Perform rating on WMS Industries (NYSE: WMS), and raised its price target from $18.00 to $26.00.
BMO Capital Markets noted, “The $26.00 per share acquisition represents a 60% premium to yesterday's closing price. We anticipate it will take seven to nine months for all regulatory hurdles to be cleared, including anti-trust approval. The purchase price implies an EV/EBITDA multiple of approximately 6 times trailing 12-months adjusted EBITDA.”
WMS Industries closed on Thursday at $24.75.
Latest Ratings for WMS
|Sep 2014||Deutsche Bank||Initiates Coverage on||Buy|
|Sep 2014||Barclays||Initiates Coverage on||Overweight|
|Feb 2013||Stifel Nicolaus||Downgrades||Buy||Hold|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.