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UPDATE: KeyBanc Initiates Coverage on EnPro Industries

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A report from Key Banc initiates coverage on EnPro Industries Inc (NYSE: NPO) with a Buy rating and a $42 price target.

The report states, “Under CEO Steve Macadam and newly appointed CFO Alex Pease, the Company is accelerating operational initiatives, while enhancing the portfolio through a more thoughtful approach to capital allocation decisions (i.e., a more strategically aligned collection of businesses). With the divestiture of Quincy Compressor and GST deconsolidation, NPO has been aggressively growing its addressable market through a disciplined acquisition strategy, adding roughly $345+ million in sales and $62+ million in EBITDA in the last five years.”

NPO closed yesterday at $33.23.

 

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