9/18/2012 1:28:00 AM
NEWS BRIEFS
Precision Castparts Stock Rating Restated
Precision Castparts had its “overweight” stock rating restated by JPMorgan Chase, which set a $188 target price on the stock.
Shares of Precision Castparts traded at $160.26 on Monday. The company has a 52 week low of $139.87 and a 52 week high of $179.47, according to the Daily Political.
PCC reportedly has a market cap of $23.29 billion.
In August the company completed its acquisition of aerostructures manufacturer Klune Industries for an undisclosed cash sum. North Hollywood, CA-based Klune will be added to PCC’s Fastener Products segment, which reported $1.7 billion in revenue during fiscal 2012, which ended April 1.
Other analysts agreed with JPMorgan Chase. Barclays Capital reiterated an “overweight” rating on shares of Precision Castparts, affirming a $185.00 price target on the stock.
Separately, RBC Capital made a similar prediction.
Precision Castparts Corp. (PCC) is a manufacturer of complex metal components and products provides investment castings, forgings and fasteners/fastener systems for aerospace and industrial gas turbine (IGT) applications. ©2012 GlobalFastenerNew
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