Pall Corp.'s (NYSE:PLL) Q1 Growth 2011 Catalyst

Barclays (NYSE:BCS) said the solid 1Q growth of Pall Corp. (NYSE:PLL) should be a strong catalyst for growth in 2011, although at a more moderate pace.

Barclays said, "Solid beat and raise: The strong rebound seen in the Industrials segment stole the spotlight as end-market momentum continued through Q1 to deliver double digit growth yoy in two of its three segments, and Life Sciences also experienced healthy growth across all segments. This broad-based recovery in end-markets drove significantly more robust top-line results, leading to a higher EPS guidance and more optimistic organic growth outlook.

"We take FY'11 estimates and price target up: We are raising our estimates for FY2011 and beyond. Though growth rates will likely moderate from the very strong Q1 levels over the remainder of the year, it does paint an incrementally more positive picture on end-market outlook. Price target is now $45 (17X new FY2011 EPS estimate of $2.62) from $41 (16X prior FY2011 EPS estimate of $2.47)."

Barclays maintains an "Equalweight" rating on Pall Corp., which closed Monday at $49.51, down $0.49, or 0.98 percent. Barclays has a price target of $45 on the company.