Wedbush Maintains Outperform Rating On Precision Castparts

According to Wedbush, Precision Castparts (NYSE: PCP) Outperform rating is reiterated.

Wedbush said that it is reiterating its OUTPERFORM rating and increasing the price target to $170 from $165 on further clarity on future commercial OEM shipments and power gen which is finally showing signs of a material recovery. “We are slightly increasing our fiscal 2012 and 2013 sales estimates and increasing our fiscal 2012 and 2013 EPS estimates to $8.59 and $9.95, respectively.”

Precision Castparts closed yesterday at $157.43.