Imperial Capital Initiates Coverage on Tyco International (TYC)
Imperial Capital assumed coverage on shares of Tyco International (NYSE:TYC) in a research note issued on Friday. The firm set an “outperform” rating and a $51.00 price target on the stock. Imperial Capital’s target price indicates a potential upside of 11.77% from the stock’s previous close.
The analysts wrote, “We are maintaining our Outperform rating and raising our one-year price target to $51 from $47, about 12% above the recent share price. Management continues to focus on amplifying service-based revenues, engaging client management to focus on business process enhancement, and growing the percentage of higher-margin service revenues in the total mix. “Management appears to be focused on being selective about what jobs the company accepts, beginning with its North American Systems Installation & Services (NA I&S) division, in our view. As a result of company’s focus on growing the percentage of higher-margin service revenues, we are raising our FY14E EPS to $1.97 from $1.92, and our FY15E EPS to $2.41 from $2.27.”
A number of other analysts have also recently weighed in on TYC. Analysts at TheStreet upgraded shares of Tyco International from a “hold” rating to a “buy” rating in a research note on Tuesday, May 13th. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Tyco International in a research note on Monday, April 28th. They now have a $43.00 price target on the stock. Finally, analysts at Morgan Stanley reiterated an “overweight” rating on shares of Tyco International in a research note on Friday, April 25th. They now have a $47.00 price target on the stock. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Tyco International currently has an average rating of “Buy” and an average target price of $45.00.
Shares of Tyco International (NYSE:TYC) traded up 0.48% on Friday, hitting $45.8501. The stock had a trading volume of 2,725,832 shares. Tyco International has a 52 week low of $32.52 and a 52 week high of $46.64. The stock has a 50-day moving average of $44.05 and a 200-day moving average of $41.95. The company has a market cap of $21.150 billion and a price-to-earnings ratio of 27.45.
Tyco International (NYSE:TYC) last issued its quarterly earnings data on Friday, April 25th. The company reported $0.45 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.41 by $0.04. The company had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter last year, the company posted $0.42 earnings per share. Tyco International’s revenue was up .5% compared to the same quarter last year. Analysts expect that Tyco International will post $1.98 EPS for the current fiscal year.
Tyco International Ltd. (NYSE:TYC) is a diversified company, which provides security products and services, fire protection and detection products and services, valves and controls, and other industrial products.
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