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UPDATE: Deutsche Bank Raises PT on LMI Aerospace to $24 (LMIA)


Deutsche Bank is out with its report today on LMI Aerospace (NASDAQ: LMIA), raising its PT from $23 to $24.

In a note to clients, Deutsche Bank writes, "Our 2011 EPS estimate goes to $1.59 from $1.55, based all on lower tax. Our 2012 EPS estimate is unchanged at $1.92. We are raising our price target by $1 to $24, based on 12.5x our 2012 EPS estimate. Previously our target was based on a 12x multiple, but given LMIA's recent record of execution (beats last two Qs) we believe a smaller valuation discount to the group is warranted (~15% discount to the group assumed vs. 20% previously)."

Deutsche Bank maintains Buy on LMIA.

Shares of LMIA closed Monday at $21.31, up 6.55% from Friday's close.

Posted-In: Deutsche Bank LMI AerospaceAnalyst Color Price Target Analyst Ratings


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