Stifel Nicolaus Reiterates Buy on Insituform Technologies

Stifel Nicolaus is out with its report today on Insituform Technologies (NASDAQ:

), reiterating Buy. In its report, Stifel Nicolaus writes, "We reiterate our Buy rating. We maintain our target price of $30.00 which is based on 14.0x 2012E EPS. INSU has been valued at an average 22.1x forward EPS over the past five years." Shares of INSU closed Thursday at $15.86.