Tuesday, January 11, 2011

Robbins & Myers (NYSE:RBN) EPS Estimates, PT Raised by Global Hunter

Robbins & Myers (NYSE:RBN) raised their guidance after a strong first quarter, and based on rig count and power sections, Global Hunter sees them continuing to outperform in 2011.

Global said, "Following a great Q1, increased guidance, and our expectation both the horizontal (power sections) and oil-directed rig count (downhole pumps) will remain hot well into 2012, we are increasing our estimates and price target for RBN. Our fiscal 2011 EPS estimate now stand at $2.09, up from our prior street-high $1.80, and is above the $1.85 to $2.05 guidance. We are introducing our 2012 EPS estimate of $2.59. Believing RBN's products will remain in high demand and that it will use its liquidity to grow its existing businesses, principally FMG and PSG, we believe further upside exists to the stock."

Global Hunter Securities maintains a "Buy" on Robbins & Myers, which closed Monday at $41.40, gaining $0.22, or 0.53 percent. Global raised their price target on them from $42. to $50.

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