Hudson Securities Raises Target On Northern Technologies (NTIC)

Hudson Securities is raising its price target on Northern Technologies International Corp

to $17 from $15, and is keeping its Buy rating on shares. In a note sent to investors, Hudson writes, "The oil and gas picture is starting to become clearer with the flange saver product and its shorter sales cycle and trial period garnering more response in the marketplace. These products are viewed as more of a preventative maintenance item versus the work done on refinery tanks which is more of a capital spending opportunity. More doors are being opened with oil and gas customers as the company has four trials underway with U.S customers have also trials ongoing with Russia and Singapore. Any future announcements of agreements on the oil and gas front would be a boost to the stock." Shares of NTIC closed at $14.03 yesterday.