UPDATE: BMO Capital Markets Raises PT to $24 on Thermon Group Holdings Post FQ4 Results - Thermon Group Holdings (NYSE:THR)

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BMO Capital Markets reiterates its Outperform rating on Thermon Group Holdings (NYSE: THR) and raises its price target from $23 to $24. BMO Capital Markets comments, "hermon reported headline fiscal 4Q12 (March) EPS of $0.20 (including $0.01 of optional bond redemption expense). Excluding the bond redemption expense, adjusted EPS from continuing operations was $0.21. Based on ourmodel, Thermon had a higher tax rate (reported 40.0% vs. estimate 35.0%) making the comparable EPS number $0.23, which beat our $0.20 estimate and consensus of $0.19. Revenue rose 15.4% year over year to $69 million, beating our forecast by 3.9%. Orders and backlog rose 49.4% and 54.3%, respectively, year over year to all-time highs." THR closed at $20.90 on Friday.

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