UPDATE: Jefferies Raises PT to $34 on Actuant

Jefferies increases its price target on Buy-rated Actuant

from $33 to $34 on favorable Q2 sales and margin trends in most operations. Jefferies says, "F2Q12 EPS were above expectations. Execution remains excellent. We raised our estimates. Guidance was edged up. We expect ATU to continue to generate high-quality earnings growth for the next 2-3 years." ATU closed at $29.43 a share yesterday.