Donaldson (NYSE:DCI) Full Year Earnings, Price Target Raised

Jefferies & Company reiterated their "Buy" rating on Donaldson Company (NYSE:DCI), but raised their full year earnings outlook and price target on them.

Jefferies raised their EPS and revenue estimates for FY2011 to $2.65/$2.19 billion from $2.55/$2.1 billion and lowered their revenue estimates for FY2012 to $2.3 billion from $2.36 billion.

"As a market leader in providing filtration technology for the engine and industrial markets, Donaldson provides investors both a solid play on an industrial recovery, as well as a longer-term play on secular trends in favor of clean air, liquid and gases for the industrial, power and electronics markets," said Jefferies.

Donaldson closed Friday at $53.76, gaining $0.10, or 0.19 percent. The price target was increased on them from $52 to $62.