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Harsco +3% as Argus upgrades to Buy

Published 09/15/2017, 03:12 PM
© Reuters.  Harsco +3% as Argus upgrades to Buy
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  • Harsco (HSC +3.1%) hits a new 52-week high after Argus upgrades shares to Buy from Hold with a $21 price target, noting that cost cutting initiatives, strong returns on prior investments and improving end market demand have resulted in better than expected H1 results which the company expects to continue into H2.
  • Citing the stronger than expected Q2 results released in early August and the improved H2 outlook, Argus raises its FY 2018 EPS estimate to $0.74 from $0.67.
  • "Although the shares are trading at the high end of its 52-week range of $8.52-$17.90, we believe they have more room to run," Argus says.
  • Now read: Tenaris: Current Valuation Easily Reconciled


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