- KeyBanc analyst Jeffrey Hammond raised the price target on EnPro Industries, Inc. NPO to $132 (an upside of 31.6%) from $115 and maintained an Overweight rating on the shares following the company's Q3 earnings and conference call.
- The analyst is "encouraged" by the company's "impressive execution" within the base business despite near-term headwinds and walks away with increased conviction around EnPro's portfolio transformation strategy with the NxEdge acquisition announcement.
- Hammond sees above-average earnings momentum for EnPro and significant room for upward multiple revisions as investors better appreciate the most recent portfolio changes.
- Also Read: EnPro Industries To Acquire NxEdge For $850M.
- Price Action: NPO shares closed higher by 8.73% at $100.23 on Friday.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.