Sterne Agee Raises WMS PT To $42

Sterne Agee has published a report raising the Price Target on WMS Industries WMS to $42 a share. According to Sterne Agee, "WMS reported 3Q11 ended March of $192.7m in revenue and $0.41 in adjusted EPS, in-line with its pre-announced preliminary 3Q11 reported on April 11th of this year – thus, final numbers were somewhat anti-climatic. WMS stated its April 11th issued FY12 guidance incorporates a stagnant replacement cycle and no new market openings." WMS is Buy rated and closed at $32.45 a share yesterday.