Kaydon "equal weight," Target Price Raised

Resource from: CBCC Likes:2951

Oct 19,2007

Kaydon "equal weight," Target Price Raised Analyst Joel G Tiss of Lehman Brothers maintains his "equal weight" rating on Kaydon Corp (KDN.NYS), while revising his estimates for the company. The target price has been raised from $52 to $54. In a research note published this morning, the analyst mentions that the company’s end-markets are expected to be negatively impacted in 2007 by the anticipated slowdown in the North American industrial sector over the near term and continued rise in raw material costs. Kaydon is expected to adopt a more aggressive acquisition strategy in 2008, the analyst adds. The EPS estimate for 2007 has been reduced from $2.45 to $2.40 and the EPS estimate for 2008 has been raised from $2.65 to $2.70.

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