UPDATE: Jefferies Raises PT on Worthington Industries on Revised F4Q13 EPS Estimate
In a report published Friday, Jefferies analyst Luke Folta reiterated a Hold rating on Worthington Industries (NYSE: WOR), and raised the price target from $25.00 to $30.00.
In the report, “We have made a modest upward revision to our F4Q13 EPS estimate based on our expectation of improved EBIT/t in Steel and revised JV earnings, which was partly offset by reduced earnings from Eng. Cabs. Our revised CY14' estimate values the shares at 7.4x EBITDA and our PT increases to $30 (+$5). We maintain a positive view on WOR, though retain our HOLD as we view risk-reward as balanced.”
Worthington Industries closed on Thursday at $29.68.
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