Markets & Finance

Jefferies Upgrades Lone Star Technologies

Jefferies upgraded Lone Star Technologies (LSS) to buy from hold. On June 17, the company said it expected second-quarter earnings per share of at least 90 cents to $1.05.

Analyst Stephen Gengaro says he believes Lone Star is well positioned for a strong second half. He cites solid OIL Country Tubular Goods (OCTG) fundamentals, strong margins that should benefit from higher prices without catch up in accounting for steel costs, and overall higher demand for products.

Gengaro raised his EPS estimates from 32 cents to 99 cents for the second quarter, $1.18 for 2004 to $3.14, and $1.60 2005 to $2.80. He also raised his $25 12-month price target to $34, based on about 9 times his 2005 EBITDA forecast.

Toyota's Hydrogen Man

Sponsored Financial Commentaries

Sponsored Links

Buy a link now!

blog comments powered by Disqus