Sterne Agee Reiterates Buy Rating, $52 PT for EnPro Industries

In a flash note published earlier today, Sterne Agee Group, Inc. reiterated its Buy rating and $52.00 price target for EnPro Industries, Inc.

, related to the company's Investor Day earlier this week. Sterne Agee went on to say “Management reiterated its belief that FY2012 sales are on track to increase by more than 12% YOY with 8% from acquisitions and mid-single digit organic growth offset by a 2.5% FX headwind at current exchange rates. Segment margins are expected to improve over 2011 levels as benefits from enterprise excellence programs are felt and acquisitions are more fully integrated. We are currently modeling a 13.6% YOY increase in sales and GAAP EPS of $2.75, which is 7% above consensus of $2.57.” EnPro Industries, Inc. closed yesterday at $39.02.