EnPro Industries' Valuation Set To Re-Rate Higher Amid Portfolio Improvements, This Analyst Says
Portfolio Pulse from Nabaparna Bhattacharya
KeyBanc Capital Markets analyst Jeffrey D. Hammond has reiterated an Overweight rating on EnPro Industries Inc (NYSE:NPO), raising the price target to $158 from $145. Hammond is optimistic about the company's core businesses within the Sealing Technologies segment. He expects 2Q revenues of $171.4 million in this segment. Hammond also notes that EnPro is beginning to see synergies between Leanteq and NxEdge, and considers the company a key beneficiary of CHIPS Act investment. He believes NPO shares are undervalued at current levels and expects valuation multiples to re-rate higher in the long term.
July 05, 2023 | 6:50 pm
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POSITIVE IMPACT
EnPro Industries' stock is expected to benefit from a raised price target and an Overweight rating by KeyBanc analyst. The company's synergies between Leanteq and NxEdge, and its potential benefit from CHIPS Act investment are also seen as positive factors.
The raised price target and Overweight rating by KeyBanc analyst Jeffrey D. Hammond indicate a positive outlook for EnPro Industries' stock. The company's synergies between Leanteq and NxEdge, and its potential benefit from CHIPS Act investment are also seen as positive factors that could drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100