UPDATE: Deutsche Bank Reiterates Buy Rating, Lowers PT on LMI Aerospace Following Slight EPS Miss

In a report published Wednesday, Deutsche Bank analyst Greg Poole reiterated a Buy rating on LMI Aerospace LMIA, but lowered the price target from $19.00 to $18.00. In the report, Deutsche Bank noted, “EPS of 16c in the quarter was shy of our 21c on modestly lower sales and 130bps worse margins, which was somewhat offset by lower taxes in the quarter. Management continues to struggle with its Valent acquisition as well as incremental declines in the Engineered Services segment. Though management isn't looking at strategic alternatives for the whole company, the divesture of the contracted engineering work in the Engineered Services segment seems like a possibility. reiterate Buy.” LMI Aerospace closed on Tuesday at $10.98.