UPDATE: Credit Suisse Initiates Coverage on Luxfer Holdings with Outperform Rating, $13 PT

In a report published Monday, Credit Suisse initiated coverage on Luxfer Holdings

with an Outperform rating and $13.00 price target. Credit Suisse noted, “We initiate coverage of Luxfer with an Outperform rating ($13 TP), as we think its growth opportunities are not reflected in the current share price. Luxfer's products are used by its customers in functions such as the reduction of emissions output, healthcare, and personal protection/safety (collectively 79% of sales). The automotive end market is the single largest that LXFR sells into (31% of sales) and it has been sluggish in 2012, but should rebound in 2013.” Luxfer Holdings closed on Friday at $10.57.