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UPDATE: Wunderlich Securities Initiates Coverage on Applied Industrial Technologies

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According to a research report published this morning, Wunderlich Securities has initiated Applied Industrial Technologies (NYSE: AIT) with a Buy rating and $43 PT.

In the report, Wunderlich Securities said, "We believe AIT offers attractive investment traits: estimated upside potential (our FY13 number is 7%-8% above consensus), significant balance sheet flexibility, discount valuation, and an underfollowed name with multiple catalysts (including aggressive new CEO and ERP implementation). Our estimates showcase opportunities emerging from the ongoing ERP implementation, as costs should be reduced and gross margin potential emerges; other distributors going through this conversion have laid out a roadmap for success post-implementation in terms of stock price and fundamental outperformance. We believe AIT is similarly well positioned."

Applied Industrial Technologies closed yesterday at $37.29.

Latest Ratings for AIT

DateFirmActionFromTo
Apr 2021Wells FargoMaintainsOverweight
Mar 2021KeyBancMaintainsOverweight
Mar 2021KeyBancMaintainsOverweight

View More Analyst Ratings for AIT
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Posted-In: Wunderlich SecuritiesAnalyst Color Initiation Analyst Ratings

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