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ARG Misses FQ3 2010 Expectations, Buy On Weakness

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Analysts at Soleil Securities Group maintain their "buy" rating on Airgas (NYSE: ARG). The target price for ARG has been reduced from $60 to $57.

Airgas reported its FQ3 2010 EPS short of the estimates and reduced the FY10 EPS forecast by $0.07. “While the headline U.S. GDP growth reported on Friday may have been better than the underlying data, the economy is clearly on the mend. The issue for investors now is how long is the lag between industrial production growth and Airgas growth,” the analysts say.

“We'd buy on weakness, with the shares down 10% on Friday, an over-reaction in our view,” the analysts add. The company indicated that it may reinitiate its suspended share repurchase program.

More Analyst Ratings here

 

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