UPDATE: Ascendiant Capital Markets Initiates EnPro Industries at Neutral; Lacks Revenue Visibility
Ascendiant Capital Markets initiated EnPro Industries (NYSE: NPO) with a Neutral rating.
Ascendiant Capital Markets noted, "Soft conditions across its end markets started in the second half of 2012 and are expected to persist into 2013. Given the short cycle nature of its products, visibility for improvement is low. Near term softness is expected to continue in the heavy duty truck market, semiconductors and the Canadian natural gas market along with weak general industrial markets. Customer feedback has been positive for an improvement in the latter half of the year."
EnPro Industries closed at $47.74 on Wednesday.
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