UPDATE: Imperial Capital Initiates Park-Ohio Holdings at Outperform

Imperial Capital initiated coverage on Park-Ohio Holdings

with a Outperform rating and a $29.00 price target. Imperial Capital commented, "Park-Ohio's Supply Technologies segment offers a compelling value proposition to customers, which we believe should provide ongoing revenue growth opportunities for the company. … A rebound in U.S. auto production units should continue to stimulate sales volumes and profitability in the Assembly Components business. We estimate that at least 75% of revenues in the Assembly Components business is tied to the automotive industry, which has been in a recovery since hitting lows in 2009." Park-Ohio Holdings closed at $22.33 on Thursday.