EnPro Industries (NPO) Prints A Clean Operating Beat - KeyBanc

KeyBanc analyst, Jeffrey Hammond, reiterated his Overweight rating on shares of EnPro Industries (NYSE: NPO) and cut his price target to $74 from $90 after the company reported 3Q18 adjusted EPS of $1.36 ($1.23 on comparable basis), beating consensus and representing a relatively clean print. Key to future results, management was able to resolve several lingering issues including the winding down of the Industrial Gas Turbine facility and STEMCO warranty issues that weighed on first half results.

The analyst stated "Given solid execution in the quarter, management raised the midpoint of its FY EBITDA guide by +$1.5M off unchanged top-line assumptions (+8-9%). Based on strong backlog visibility and order trends, we believe management has greater confidence in its FY framework, and is applying some conservatism on the top-line up against a challenging y/y compere backdrop in 4Q". More detail will likely be available after the conference call at 10 a.m. EDT (dial-in:800-851-4704; passcode 53479827).

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 $62.20 yesterday.

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