Tyco International (TYC) PT Adjusted to $38 at Cowen

Cowen analyst Gautam Khanna lowered his price target on Tyco International (NYSE: TYC) to $38.00 (from $44.00) but maintained an Outperform rating.

Khanna commented, "F16 Street EPS has drifted near us & where TYC is apt to guide, an improved revision set-up vs. prior Qs. The firm still offers more "self help" margin headroom than peers, visible EPS gains, & North American non-resi exposure. Our new PT of $38 implies a 10% re-rating on F16Ex EPS, as sentiment on the stock should improve post FQ4's print and initial F16 guidance (November)."

For an analyst ratings summary and ratings history on Tyco International click here. For more ratings news on Tyco International click here.

Shares of Tyco International closed at $34.62 yesterday.

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