UPDATE: BMO Capital Markets Reiterates Market Perform Rating, Raises PT on WMS Industries

In a report published Friday, BMO Capital Markets reiterated its Market Perform rating on WMS Industries

, and raised its price target from $18.00 to $26.00. BMO Capital Markets noted, “The $26.00 per share acquisition represents a 60% premium to yesterday's closing price. We anticipate it will take seven to nine months for all regulatory hurdles to be cleared, including anti-trust approval. The purchase price implies an EV/EBITDA multiple of approximately 6 times trailing 12-months adjusted EBITDA.” WMS Industries closed on Thursday at $24.75.