S&P Upgrades Dynamic Materials (BOOM) to Hold from Strong Sell

S&P Upgraded Dynamic Materials BOOM to Hold from Strong Sell, late Friday afternoon. They maintained their 2010 GAAP EPS estimate of $0.37, but raised 2011's by $0.12 to $0.70. They raised the 12-month target price by $4 to $17. Here are a few quotes from the report: “We have become more confident that the global economy will continue to improve through 2011. Although we still expect BOOM to face price weakness in its core explosion-clad welding market, and expect conversions from quotes to actual orders to remain challenging, we believe prospects for increased capital spending in BOOM's core markets are improving. We are maintaining our 2010 GAAP EPS estimate of $0.37, but raise 2011's by $0.12 to $0.70. Applying a historical average enterprise value to EBITDA multiple to our 2011 estimate, we raise our 12-month target price by $4 to $17. R.Tortoriello”
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Posted In: Analyst ColorUpgradesPrice TargetAnalyst RatingsDynamic MaterialsIndustrial MachineryIndustrials
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