WMS Industries (NYSE:WMS) Margins to Increase Says Morgan Joseph

Saying they see WMS Industries (NYSE:WMS) increasing margin going forward, Morgan Joseph boosted their price target on the company.

Commenting on the increase of the price target, Morgan Joseph said it is "prudent to value the stock off FY12 earnings now given the margin expansion potential that we envision next fiscal year, the likely pick-up in replacements, and growth potential on the international front."

They also released their EPS estimate for 2012 on WMS, which they placed at $2.51.

Morgan Joseph reiterates their "Buy" rating on WMS Industries, which closed Wednesday at $44.13, down $0.77, or 1.71 percent. They raised their price target on them from $49 to $55.