Thursday December 20, 06:04 PM
Actuant "sector perform," target price raised
NEW YORK, December 20 (newratings.com) - Analysts at RBC Capital Markets maintain their "sector perform" rating on Actuant Corporation (ticker: ATU), while raising their estimates for the company. The target price has been raised from $34 to $35.
In a research note published this morning, the analysts mention that the company has posted robust F1Q08 results, with revenues and EPS ahead of the consensus. Actuant's quarterly performance was driven by continued strength in the industrial segment and robust margin contribution across its operating segments, the analysts say. The company has raised its EPS guidance for FY08 from $1.90-$1.97 to $1.95-$2.05. The EPS estimate for FY08 has been raised from $1.97 to $2.02.
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