Colfax (NYSE:CFX) Should Pursue M&A in 2011 Says UBS

Colfax Corporation (NYSE:CFX) appears ready to being some acquisitions in 2011, says UBS (NYSE:UBS), adding they've been relatively quiet on that front since going public in 2011.

UBS says, "We believe part of the “bull” case on CFX is its potential ability to participate in a roll-up of a highly fragmented industry. While CFX has not been very acquisitive since its 2008 IPO, we expect new management to pursue M&A more aggressively and think the recent Baric deal could signal greater attention to deals going forward. Also, In early Dec., Daniel Pryor was named Senior Vice President of Strategy and Bus. Development. Pryor joins CFX from Carlyle and previously spent 11 years at DHR and was involved in its “entry into...medical technology a.nd product identification...We maintain our '10 and '11 EPS ests of $0.83 and $1.10, respectively."

UBS reiterates a "Buy" rating on Colfax Corporation, which closed Friday at $19.04, up $0.22, or 1.17 percent. UBS raised their price target on Colfax from $19 to $22.