Deutsche Bank Reiterates Buy Rating, $25 PT on LMI Aerospace on Underlying 4Q EPS

In a report published Wednesday, Deutsche Bank analyst Myles Walton reiterated his Buy rating and $25.00 price target on LMI Aerospace

. In the report, Walton noted, “Underlying 4Q eps came in at 38c, below our/consensus of 43c. 2c of the miss was higher below-the-line costs with an operating miss of 3c in Aerostructures related to issues at a Tier-1 supplier (recoveries expected by 2Q). Ex. this, we est perf. was in-line with our/street estimates. 2013 guidance was updated to include Valent and implied EPS in the low ~$2 level vs. our/cons of $2.07/2.12. The guidance included $2.5M [~13c] of 1-time acq-related -ives, implying underlying eps ~in-line w/expectations. Despite '13 likely to show 20% earnings growth, the 2014 EPS picture could be 30% higher. Reiterate Buy.” LMI Aerospace closed on Tuesday at $21.11.