AZZ Inc. ( NYSE: AZZ ) +10.1% in Wednesday's trading after Sidoti & Co. upgraded shares to Buy from Neutral with a $49 price target, seeing an attractive entry points after Tuesday's 22% rout from the company's Q2 miss on earnings and revenues and refusal to give full-year guidance.
"When the dust settles, we think there is an attractive fundamental operating profile at the reconstituted AZZ," analyst John Franzreb wrote, according to Bloomberg, even as he lowered FY 2023-24 profit estimates after the company noted "meaningful seasonality" in the recently acquired Precoat Metals business.
After two "transformative and highly accretive transactions," AZZ ( AZZ ) is now "entrenched in a business with improved margins, a market experiencing secular tailwinds, and an environment expected to last for the foreseeable future," Anthony H. Steinmetx writes in an analysis published on Seeking Alpha .
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AZZ bounces as Sidoti upgrades on valuation after post-earnings rout