Hudson Securities Raises Gardner Denver PT To $81, Maintains Neutral (GDI)

Hudson Securities raised its Gardner Denver GDI price target to $81 from $62 and maintained Gardner Denver's Neutral rating in a research report published today. In the report, Hudson Securities states, "With a recovering industrial economy and increased drilling activity, the stage was set for an impressive quarter and Gardner Denver delivered. Guidance sounds a bit conservative given the level of cost reduction over the past few years and volumes starting to pick up. We are certainly less concerned about drilling pump orders drying up over the course of 2011 as management pointed to several demand drivers which should be able to sustain order growth. But we nevertheless still view shares as fairly valued as valuation is now in line with several other multi-industrial peers that we follow, thus we are maintaining our NEUTRAL rating." Shares of Gardner Denver were trading at $75.84 at the time of posting, down 0.89% from Friday's market close.