Market Overview

UPDATE: Goldman Sachs Initiates Coverage On Tyco International Ltd.

Share:

Tyco International Ltd. (NYSE: TYC) received a Neutral rating from Goldman Sachs as the firm initiated coverage with a $47 12-month price target.

Analysts led by Joe Ritchie expected growth to under pace peers, several factors to curb margin expansion beyond 2015 and legacy liabilities to limit the upside.

Tyco is a pure play in the global commercial fire and security industry. A commercial and industrial recovery along with some of the company’s recent divestitures should help its margins, according to Ritchie. Ongoing restructuring costs and a European slow-down are risks.

Ritchie’s $47 Price Target is based on a CY 2015 EPS estimate of $2.50 at a multiple of 18x.

Tyco International Ltd. traded at $44.50 late Wednesday, down 0.16 percent.

Latest Ratings for TYC

DateFirmActionFromTo
Aug 2016Morgan StanleyMaintainsOverweight
May 2016Atlantic EquitiesUpgradesNeutralOverweight
May 2016Buckingham ResearchMaintainsNeutral

View More Analyst Ratings for TYC
View the Latest Analyst Ratings

 

Related Articles (TYC)

View Comments and Join the Discussion!

Posted-In: Goldman Sachs Joe RitchieAnalyst Color Price Target Initiation Analyst Ratings

Latest Ratings

StockFirmActionPT
ESTCCanaccord GenuityMaintains150.0
AVAVCanaccord GenuityMaintains98.0
OKTACanaccord GenuityMaintains250.0
SNOWCanaccord GenuityMaintains275.0
RCMSVB LeerinkMaintains26.0
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