UPDATE: Brean Murray Carret Downgrades Met-Pro to Hold Post Earnings Disappointment

Brean Murray Carret reduced its rating on Met-Pro (NYSE: MPR) from Hold to Buy and suspended its price target, previously at $14 a share.

Brean Murray Carret commented, "Lack of execution has forced us to revisit our investment thesis. In our view, Met‐Pro Corp should continue working to improve the financial performance of the Pollution Control/ Product Recovery segment, while simultaneously exploring a sale of the company itself to maximize shareholder value. We lower our rating from Buy to Hold (versus Sell), as we continue to see value in MPR's balance sheet and assets, which we believe could be sold as a complete business or by the segments."

Met‐Pro closed at $9.06 on Thursday.