UPDATE: Topeka Capital Raises PT on Dynamic Material Following Investor Meetings
In a report published Wednesday, Topeka Capital Markets analyst Daniel Whalen reiterated a Buy rating on Dynamic Materials Corporation (NASDAQ: BOOM), and raised the price target from $20.00 to $25.00.
In the report, Topeka Capital Markets noted, “We recently hosted a series of investor meetings with BOOM's management. The general tone of the meetings re-emphasized DMC's business activity is percolating. However, arguably more important was our increased conviction that Kevin Longe (CEO), who has been with the Company for about one year, continues to implement broader strategies (i.e. more focus on non-legacy businesses) and an increased level of focus on execution. We believe the Company is in the early stages of being raised to the next level both in terms of scale and caliber and consequently we are raising our price target from $20 to $25.”
Dynamic Materials Corporation closed on Tuesday at $21.48.
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