Market Overview

UPDATE: Stifel Nicolaus Raises PT to $92 on SPX Corporation on Earnings Growth

Share:
Related SPW
Nelson Peltz And Pentair: Could M&A Be On The Horizon?
Benzinga's Top Upgrades
Upcoming Spin-Off SPX Flow May Garner Acquisition Interest As A Standalone (Seeking Alpha)

Stifel Nicolaus maintained SPX Corporation (NYSE: SPW) with a Buy rating and raised the price target from $85.00 to $92.00.

Stifel Nicolaus commented, "While we understand investor concerns over the reported attempt by SPX to acquire Gardner Denver (GDI, not rated) late last year, the numbers here are pretty simple. And compelling. We forecast $5 of EPS in 2013 growing by 50% over the following 2 years to $7.51 in 2015, and you can buy this growth for ~16x 2013E or ~13x 2014E earnings. We view the $200 million share repurchase and $250 million pension pre pay (equivalent to a debt reduction, but with a better return) as shareholder friendly moves which should help investors comfort level."

SPX Corporation closed at $79.35 on Thursday.

Latest Ratings for SPW

DateFirmActionFromTo
Jun 2015Bank of AmericaUpgradesUnderperformBuy
May 2015SusquehannaMaintainsNeutral
May 2015JP MorganUpgradesNeutralOverweight

View More Analyst Ratings for SPW
View the Latest Analyst Ratings

Posted-In: Stifel NicolausAnalyst Color Price Target Analyst Ratings

 

Related Articles (SPW)

Around the Web, We're Loving...

Get Benzinga's Newsletters