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.
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Tags: BMO Capital Markets