FBR Capital Markets Wednesday raised its price target and earnings estimates on diversified conglomerate Tyco International Ltd. (TYC). The brokerage cited company's conservative guidance for fiscal 2010. The price target was raised to $41 from $39 and the 2010 EPS estimate was increased to $2.50 from $2.40. The brokerage maintained its "Outperform" rating on the stock.
Noting the outlook of $2.30-$2.50 as conservative, analyst Deane Dray said his positive thesis on the company is based on its appeal as a "defensive early cycle" and as an attractively valued stock. The analyst said the company on Tuesday had reported solid earnings for the fourth quarter that beat consensus by 7 cents.
The brokerage expects the company to be well above consensus 2010 estimates, as it sees upside from cash redeployment and improving market conditions in the back half of 2010. FBR expects healthy margin improvements at Tyco's ADT segment.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.