Jefferies raises its price target from $93 to $103 on Airgas ARG following the company's acquisition of Industrial Welding Supplies. Rating is reiterated at Buy.
Jefferies notes, "Airgas has acquired $30m (sales) Industrial Welding Supplies. We estimate the transaction was valued at roughly 5x-7x LTM EBITDA, or approximately $25-$35m, and that it could be up to $0.01 accretive to EPS in FY13. Separately, we are raising FY13E $0.15 to $4.65 and rolling forward our price target to 18x calendar 2013E, or $103."
ARG closed at $89.71 a share on Monday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in