Nomura Says Hold Powder on Tyco (TYC) Post-separation

Nomura Securities maintained a Neutral rating on Tyco International (NYSE: TYC) and cut its price target to $30.00 (from $56.00).

"The new Tyco that remains after the formal separation of ADT and Flow is a pure-play Fire & Security company with both growth and margin opportunities," said analyst Shannon O’Callaghan.

"Our initial impressions of the management team are positive, and we view the three-year plan for a 15% EPS CAGR as attractive. We stay at a Neutral rating as we await initial FY13 guidance and early signs of execution amid the initial postseparation adjustment period," he added.

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

Shares of Tyco International closed at $28.98 yesterday.

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