KeyBanc Upgrades EnPro Industries (NPO) to Buy

KeyBanc upgraded EnPro Industries (NYSE: NPO) from Hold to Buy with a price target of $75.00.

Analyst Jeffrey D. Hammond said, "We are upgrading NPO to BUY (from HOLD) with a $75 price target based on the combination of management’s significant progress toward an ultimate resolution of its asbestos liability, coupled with our increased confidence in NPO’s underlying business fundamentals and what we see as an attractive valuation. In addition, given the Company’s sizable balance sheet capacity and early dividend commitment (effective 1Q15), we expect capital allocation to take on a larger role toward driving shareholder value as more definitive timing around GST claimant contributions materializes."

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

Shares of EnPro Industries closed at $62.87 yesterday.

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