UPDATE: Stifel Reiterates Buy Rating, Lowers PT on Matrix Service Co. as Core SS Segment Margins and Backlog Remain Robust

Loading...
Loading...
In a report published Friday, Stifel analyst Robert Connors reiterated a Buy rating on
Matrix Service Co.MTRX
, but lowered the price target from $31.00 to $29.00. In the report, Stifel noted, “Despite the disappointing quarter, the SS segment bookings and core margins remain strong, so we like the trend. For FY2015, our estimate currently stands at $1.53/sh. vs. $1.55/sh. previously and for FY2016 we estimate EPS of $1.82/sh. vs. $1.74/sh, previously. Due to higher SS top-line offset by lower than previously EI revenues. We see companies with construction and craft labor exposure, such as MTRX, as the next beneficiaries of the N. American downstream capex cycle as fabrication capabilities will be at a premium, in our view. We continue to rate MTRX share Buy with a $29/sh. target price.” Matrix Service Co. closed on Thursday at $22.49.
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorPrice TargetAnalyst RatingsRobert ConnorsStifel
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...