Citi Previews Analyst Day For Actuant Corporation (ATU)

Citi Investment Research previews the analyst day for Actuant Corporation

. It has a Hold rating and a $33 price target on shares. In the research note Citi writes, "We expect Actuant's analyst meeting on October 12 to highlight restored demand in industrial and vehicle related markets reflected in the recent quarter. The commitment to grow through acquisitions, especially in energy markets is also likely be at the center of the day's discussion. We also expect more color on the recently planned divestiture of European Electrical, and likely questions about its long-term plans for the legacy Electrical Tools business." Shares of ATU gained 39 cents to close at $23.27 on Friday, a gain of nearly 2%.