Market Overview

UPDATE: Stifel Raises PT on CIRCOR International Following CEO/CFO Meeting

Share:

In a report published Wednesday, Stifel analyst Nathan Jones reiterated a Buy rating on CIRCOR International (NYSE: CIR), and raised the price target from $65.00 to $75.00.

In the report, Stifel noted, “We had the opportunity to meet with CEO Scott Buckhout and CFO Fred Burditt at CIRCOR's offices in Burlington, MA yesterday. We came away incrementally more confident that the company has a long runway for margin improvement and that plans are coalescing for what is likely to be a lengthy turnaround. We found Mr. Buckhout to be thoughtful and cognizant of the risks and opportunities that lay ahead for CIRCOR as the company has many discrete opportunities to improve margins through internal actions. While near term the story is going to be margin improvement through internal actions, Mr. Buckhout talked constructively about investing in product development and innovation to increase organic growth and we also believe we will see a more aggressive CIRCOR in the M&A market over time (CIRCOR has no net debt, M&A is not likely to be a high priority in the near term). Based on our conversations with Mr. Buckhout and Mr. Burditt, and Mr. Buckhout's history of successful internal improvement we are raising our longer term estimates and target price to $75.”

CIRCOR International closed on Tuesday at $61.08.

Latest Ratings for CIR

DateFirmActionFromTo
Nov 2020KeyBancMaintainsOverweight
Aug 2020CitigroupMaintainsNeutral
Apr 2020CitigroupMaintainsNeutral

View More Analyst Ratings for CIR
View the Latest Analyst Ratings

 

Related Articles (CIR)

View Comments and Join the Discussion!

Posted-In: Nathan Jones StifelAnalyst Color Price Target Analyst Ratings

Latest Ratings

StockFirmActionPT
KALUBenchmarkUpgrades
YEXTDA DavidsonMaintains20.5
BYDB of A SecuritiesMaintains47.0
SAICMorgan StanleyMaintains98.0
PVHMorgan StanleyMaintains104.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com