S&P KEEPS BUY RECOMMENDATION ON SHARES OF GIBRALTAR INDUSTRIES INC.
S&P KEEPS BUY RECOMMENDATION ON SHARES OF GIBRALTAR INDUSTRIES INC. 4:44 PM ET 8/17/11 | S&P Marketscope
To reflect more conservative assumptions for sales and EPS, we lower our EPS estimate for '11 to $0.62 from $0.72 and reduce '12's to $0.83 from $0.98. On the change to '12's estimate, we cut our 12-month target price to $11 from $18. The projected P/E on our revised estimate using our new target price would be just above the mid-point of the historical range of the past 10 years. We see long-term EPS rising on ROCK's plans to expand its presence in the infrastructure and repair/remodeling markets. With ample upside potential to our target price, our recommendation is buy.