Credit Suisse Starts Atkore (ATKR) at Neutral

Credit Suisse initiates coverage on recent IPO Atkore (NYSE: ATKR) with a Neutral rating and a price target of $20.00.

Analyst Julian Mitchell commented, "We initiate coverage of Atkore with a Neutral rating and $20 target price. We believe that this management team's pedigree is superior to those of many SMID-cap industrial companies, and that the stock's valuation looks relatively cheap compared with its direct peers. However, we are concerned that the rapid margin expansion in recent years may now abate, and that this will put a ceiling on a valuation re-rating, given the historical volatility of the margin profile."

For an analyst ratings summary and ratings history on Atkore click here. For more ratings news on Atkore click here.

Shares of Atkore closed at $16.85 yesterday.

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