AZZ Inc rises after Jefferies initiates with 'buy' rating

AZZ

20/05/2024 16:13

** Metal coating solutions company AZZ Inc's shares  AZZ.N 
rise 5% to $80.55
    ** Jefferies initiates coverage with "buy" rating and PT of
$105, representing a 37% upside to the stock's last close
    ** Says AZZ benefits from "strong secular trends in favor of
reshoring and infrastructure upgrades and a cyclical recovery in
metals demand"
    ** Notes structural improvement in co's free cash flow
generation as it reduces debt
    ** Two brokerages rate the stock "strong buy", one "buy" and
two "hold"; their median PT is $89 - LSEG data
    ** Stock had risen 38% YTD

 (Reporting by Aatreyee Dasgupta)
 ((Aatreyee.Dasgupta@thomsonreuters.com))