Stifel Nicolaus Reiterates Buy on Insituform Technologies

Stifel Nicolaus is out with its report today on Insituform Technologies INSU, reiterating Buy. In its report, Stifel Nicolaus writes, "We reiterate our Buy rating. We maintain our target price of $30.00 which is based on 14.0x 2012E EPS. INSU has been valued at an average 22.1x forward EPS over the past five years." Shares of INSU closed Thursday at $15.86.